Law Blog - WSJ.com (Free subscription) | 10/29/2009
Industrial & Commercial Bank of China reported a 19% rise in third-quarter net profit as a pickup in China's economic growth continued to drive demand for loans.
People Daily (Free subscription) | 10/30/2009
Mainland stocks fell to a two-week low, led by banks and developers, as Bank of Communications Ltd reported profit that missed analyst estimates and the government said it plans to tighten rules on personal loans. Bank of Communications slid 3.2 percent after its profit climbed a smaller-than-expected 1.5 percent. Industrial & Commercial Bank of China Ltd lost 2.2 percent while China Vanke...
People Daily (Free subscription) | 10/21/2009
Allianz SE and American Express Co plan to keep their Industrial & Commercial Bank of China Ltd stakes, which have a combined value of about $3.1 billion, past a lockup on the holdings that expired yesterday. Allianz and American Express have no immediate plans to sell, the companies and Beijing-based ICBC said in statements. Allianz has 3.22 billion Hong Kong-traded ICBC shares, worth HK$19.9...
Business World (Free subscription) | 10/25/2009
... are presently vying for control of the thrift bank, one of which is the Industrial and Commercial Bank of China Ltd. (ICBC). ICBC, touted as the largest bank in the world in terms of market value with 18,000 outlets including 106 overseas branches and agents, bared its plan last year to expand GSIS Family Bank’s branch network by 20 branches on top of the existing 22 branches. The...
Bloomberg (Free subscription) | 10/20/2009
Oct. 19 (Bloomberg) -- Allianz SE and American Express Co. plan to keep their Industrial & Commercial Bank of China Ltd. stakes, which have a combined value of about $3.1 billion, past a lockup on the holdings that expires today.
Market Watch (Free subscription) | 10/19/2009
TOKYO (MarketWatch) -- Hong Kong's Hang Seng Index was 0.1% lower at 21,904.23 in early action Monday and the Hang Seng China Enterprises shed 0.1% to 12,733.44 with some financial stocks losing ground. Shares of HSBC Holdings were down 1.3%, and Bank of China Ltd. fell 1.1%. In mainland China, the Shanghai Composite was down 0.1%, after moving briefly into positive territory. Market...
When Giants Fall (Free subscription) | 10/19/2009
... Communist Party who's knowledgeable about the matter said Zhu Min, executive vice president at Bank of China Ltd., will become a vice governor at China's central bank with the hope he eventually will compete to be named an IMF deputy managing director. The official, who declined to be named, said the party has approved the appointment of Mr. Zhu at the People's Bank of China,...
Law Blog - WSJ.com (Free subscription) | 10/17/2009
China's Communist Party has approved the appointment of Zhu Min, Bank of China vice president, as a central bank vice governor.
Law Blog - WSJ.com (Free subscription) | 10/18/2009
An official of China's Communist Party with direct knowledge of the matter said Zhu Min, now a vice president at Bank of China Ltd., will take a position at China's central bank with the hope that he eventually will compete for the post of deputy managing director for the IMF.
CEOWORLD Magazine (Free subscription) | 10/13/2009
Central Huijin Investment Ltd., an investment arm of China Investment Corp., will continue buying shares in the country’s three largest banks over the next year to reassure investors and stabilize the stock market, the lenders said Monday. Last month, Huijin completed a year-long program to buy shares in Industrial & Commercial Bank of China Ltd. (SHA:601398), [...]
Law Blog - WSJ.com (Free subscription) | 10/15/2009
Construction Bank, the country's second largest lender by assets after Industrial & Commercial Bank of China Ltd., also remains cautious about buying overseas because "the dust of the global financial crisis hasn't yet settled," Mr. Guo said in an interview with a small group of reporters.
Business Pundit (Free subscription) | 10/15/2009
... which includes a gain of $344 million related to its stake in the Industrial & Commercial Bank of China Ltd. That effort comes as the New York-based company set aside $16.71 billion for compensation and benefits during the first nine months of 2009, which is enough to pay $568,367 to each of its employees. The performance during the third quarter puts compensation on track to beat...
iStockAnalyst.com (Free subscription) | 10/09/2009
Goldman might benefit from its investment in the Industrial & Commercial Bank of China Ltd., whose shares have gained roughly 20% during the third quarter. Several of the favorable conditions that the company experienced in the second quarter of 2009 extended into the third quarter. The competitive environment in the third quarter remained fragmented and levels of available risk capital...
Globe and Mail (Free subscription) | 09/28/2009
... currency, but the impact will not be huge,” said Zuo Xiaolei, chief economist of Galaxy Securities Ltd. in Beijing.Hong Kong is Chinese territory but has its own currency and regulatory system and often is used by Chinese companies to deal with foreign investors.A few mainland institutions, including state-owned China Construction Bank Ltd. and Bank of China Ltd., have...
The Earth Times Online Newspaper (Free subscription) | 09/24/2009
Hong Kong - Hong Kong shares fell by 2.52 per cent Thursday led by losses in the banking sector and a bad first day for the newly-listed Metallurgical Corporation of China Ltd. The blue-chip Hang Seng Index ended the day down 544.79 points at 21,050....
