Bank Of Communications @ The China Perspective

In banking news, China’s Bank of Communications (Bocom) shares were up as much as 9.5% on speculation that HSBC was interested in increasing its stake in the bank. Bocom shares have risen 77% since their IPO on May 14 of this year. HSBC bought a 19.9% stake in Bocom back in August of 2004 but this position was diluted down to 18.1% after Bocom’...

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Founded in 1908, Bank of Communications is one of the oldest bank and earliest bank notes issuers in China. With a national network of 92 branches and 2413 sub-branches, it is a commercial bank has three principle lines of business as corporate banking, retail banking and treasury operations. It is 19.9 percent-owned by global lender HSBC. In the first quarter of 2006, Bank of Communications total interest income increased 26 percent to 14.34 billion yuan. Net interest income after LLP increased 19 percent to 8.79 billion yuan. Net income increased 43 percent to 2.9 billion yuan.

Today’s Daily Briefs E-Mail

	Banks to be allowed to invest in insurers January 14,2008 By STAFF EDITOR HSBC to boost mainland staffing levels November 27,2007 By STAFF EDITOR BoCom eyes offshore M&A with HSBC November 26,2007 By STAFF EDITOR Acquisitions cornerstone of BoCom's rural strategy November 06,2007 By STAFF EDITOR BoCom Beijing branch defines 2nd mortgage November 05,2007 By STAFF EDITOR Listed companies post US$76b profits November 02,2007 By STAFF EDITOR HSBC to explore rural China October 31,2007 By STAFF EDITOR BoComm behind 3m credit cards October 30,2007 By STAFF EDITOR BoCom launches trust firm October 29,2007 By STAFF EDITOR Restructuring time for China Agricultural Bank, and HSBC wants more of Bocom October 11,2007 By ANDREW SIEGFRIED In banking news, China’s Bank of Communications (Bocom) shares were up as much as 9.5% on speculation that HSBC was interested in increasing its stake in the bank. Bocom shares have risen 77% since their IPO on May 14 of this year. HSBC bought a 19.9% stake in Bocom back in August of 2004 but this position was diluted down to 18.1% after Bocom’... 1 2 3 4 5	Founded in 1908, Bank of Communications is one of the oldest bank and earliest bank notes issuers in China. With a national network of 92 branches and 2413 sub-branches, it is a commercial bank has three principle lines of business as corporate banking, retail banking and treasury operations. It is 19.9 percent-owned by global lender HSBC. In the first quarter of 2006, Bank of Communications total interest income increased 26 percent to 14.34 billion yuan. Net interest income after LLP increased 19 percent to 8.79 billion yuan. Net income increased 43 percent to 2.9 billion yuan. Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. MOST POPULAR China Central Bank in need of a cash infusion, RMB appreciation to pause Garment makers targeting domestic market outperform exporters Poly Real Estate revenues up 25% YTD Shenyang’s Tiexi district targets alternative energy sector 40% of Chinese private firms target overseas expansion: HSBC BMW to build 2nd plant on mainland Wuhan Optical Valley sets sights on global influence by 2020 XEMC Windpower inks US$46m deal with Datang Power Generation Haima to build 2 150,000-vehicle plants Paper makers team up on eco-friendly plant Go to Complete List >

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