Minsheng unfazed by UCBH losses

China Minsheng Banking Corp, the lender that's planning a Hong Kong stock sale, booked an 824-million-yuan ($121 million) loss on its stake in UCBH Holdings Inc, whose bank was seized by US regulators last week.

Minsheng paid 887 million yuan to accumulate a 9.9-percent stake in San Francisco-based UCBH, the Chinese lender said in a stock exchange filing yesterday. UCBH's United Commercial Bank was seized by regulators and bought by East West Bancorp, the Federal Deposit Insurance Corp said.

The seizure won't have any "major impact" on Minsheng's operations and profit because impairment charges already taken have been "relatively sufficient", the statement said.