--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
SPORTS
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Film in China
War on Poverty
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service
China Calendar
Trade & Foreign Investment

Hot Links
China Development Gateway
Chinese Embassies

BOC Appoints Underwriters for Listing

Bank of China (BOC) announced yesterday that Bank of China International, Goldman Sachs Group and UBS would be the financial advisers and lead underwriters for its planned initial public offering (IPO) sometime next year.

Spokesman Wang Zhaowen said the bank had chosen the three after a rigorous assessment and taking various factors into account.

All the three banks enjoy a strong position and good reputation in the international capital markets in Asia, Europe and the United States, Wang said.

They also have long-established ties with BOC and took part in many operations including the listing of BOC Hong Kong, he said.

"We believe that the participation of the three will help us speed up the preparation for the overseas IPO as quick as possible," Wang said.

Economists pointed out that BOC's selection of the three financial advisers and lead underwriters suggests the bank has moved a step further towards the IPO.

Domestic banks, which are expected to face fierce competition from foreign counterparts after the end of 2006, have been taking a series of measures including listing and introduction of foreign strategic investors to strengthen their position.

China Construction Bank, which has signed agreements with Bank of America and Temasek Holdings (Private) Limited on forging strategic partnerships, plans to list shares in Hong Kong before the end of this year.

On August 18, BOC also signed a strategic investment and cooperation agreement with Royal Bank of Scotland Group (RBS), which will spend US$3.1 billion for 10-percent interest in the Chinese bank.

Under the agreement, the two banks will cooperate closely in a range of areas including credit cards, wealth management, corporate banking and personal insurance.

The two also intend to establish a cooperative relationship in management, including corporate governance, risk, financial and human resources management, and information technology.

Officials with BOC believe the cooperation with RBS is crucial to transforming the bank's operational structure, enhancing management capability, improving competitiveness and increasing profitability.

The bank, which received a US$22.5 billion capital injection from the State in late 2003, was chosen by the central government as a pilot project in the country's banking reform.

It was restructured into a joint-stock company last year.

During the first half of this year, the bank recorded fast growth in both operating and net profit; but officials declined to provide detailed figures because they need to be audited and submitted to the board of directors first.

The bank's unaudited operating profit rose 11.56 percent during the first half of this year.

At the end of June, the bank's non-performing credit rate declined to 4.38 percent from 5.12 percent at the end of last year.

Its capital adequacy ratio was 10.04 percent at the end of last year.

(China Daily August 31, 2005)

RBS to Acquire 10% of BOC
Europe's Second Biggest Bank Might Buy into Bank of China
UBS in Talks with BOC for Investment
Bank of China Sacks 20 Local Branch Directors
Bank of China to Seek Senior Staff Worldwide
BOC Negotiating with Investors
Bank Fights Fraud with Review
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 波多野结衣一区二区三区| 青梅竹马嗯哦ch| 波多野结衣xfplay在线观看| 四虎成人免费大片在线| 黄色一级片毛片| 国产精品久久福利网站| 中文字幕无码不卡一区二区三区| 机机对机机120分免费无遮挡 | 久久精品国产亚洲精品2020| 欧美人与动欧交视频| 亚洲福利电影一区二区?| 男人的天堂色偷偷| 再深点灬舒服灬太大了添a| 色之综合天天综合色天天棕色| 国产午夜视频高清| 国内精自视频品线六区免费| 国产精品久久久久久久久久久搜索 | www.尤物在线| 岳一夜被你要了六次| 亚洲一区二区三区电影| 欧美色成人综合| 亲密爱人之无限诱惑| 被夫上司持续侵犯7天| 国产成人亚洲精品91专区高清| 青青操在线免费观看| 国产精品色午夜免费视频| 97久久精品人人做人人爽| 大胸美女洗澡扒奶衣挤奶| japanese色国产在线看免费| 妞干网在线视频观看| 一本大道道无香蕉综合在线| 成人在线手机视频| 久久97久久97精品免视看| 欧美午夜春性猛交xxxx| 亚洲欧美日韩国产综合高清| 浮力影院第一页小视频国产在线观看免费| 免费又黄又硬又爽大片| 窝窝社区在线观看www| 国产伦精品一区二区三区| 高清国产一级毛片国语| 国产性夜夜春夜夜爽三级|