Bank of Beijing buys stake in rival

Banking, Finance and Insurance

Thursday, August 28, 2008 20:03:31

	Bank of Beijing buys stake in rival By STAFF EDITOR Published: April 08, 2008 08:52 PM Bank of Beijing, China’s largest city-level commercial bank in terms of assets, has agreed to pay US$18.21 million (RMB127.5 million) for a 19.99% stake in Langfang City Commercial Bank, the South China Morning Post reported. Langfang, based in the northern China’s Hebei province, posted a net profit of US$20.51 million (RMB143.67 million) on ... You are currently reading 57 words of 173 total words in this article. To continue reading this article, you must be a subscriber. Log in now. Buy this article now for $10 USD. Not a subscriber? Start your 7-day free trial now. bookmark \| digg \| Permalink \| Tell a Friend Tags for this article: investment , US , Beijing	More Articles in Banking, Finance and Insurance > Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. RELATED ARTICLES > Changsha Bank sells 20% stake to French counterpart New China Life’s Shanghai premiums up 184.4% in 1H Banking sector steady despite mortgage risks Shandong farmers pay RMB182m for farm insurance in 1H Shanghai aims to become private equity fund hub Postal Savings Bank launches corporate business in Beijing HSBC launches bank in rural China

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