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Bank of China Ltd (3988.HK)

3988.HK on Hong Kong Stock

3.90HKD
29 May 2017
Change (% chg)

HK$0.01 (+0.26%)
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Latest Key Developments (Source: Significant Developments)

Moody's affirms 3 chinese banks, 2 leasing companies
Wednesday, 24 May 2017 06:00am EDT 

May 24 (Reuters) - 1288.Hk <1288.HK>-:Moody's affirms 3 chinese banks, 2 leasing companies, downgrades 1 bank, 3 policy banks, 1 leasing co, and puts 1 bank and 2 leasing cos on review for downgrade.Moody's says downgraded agricultural bank of china long-term deposit rating to a2 from a1 & put bocom's a2 long-term, p-1 short-term deposit ratings on review for downgrade.Moody's - affirmed a1 long-term deposit ratings of bank of china limited,china construction bank corporation, industrial and commercial bank of china.Moody's on chinese banks - downgrade of the three policy banks is mainly driven by their very close linkages with the sovereign's credit quality.Moody's says downgraded long-term issuer ratings and/or senior unsecured debt ratings of three chinese policy banks to a1 from aa3.  Full Article

Bank of China announces Q1 financial results
Friday, 28 Apr 2017 05:01am EDT 

April 28 (Reuters) - Bank Of China Ltd <3988.HK><601988.SS>:Says Q1 net interest margin at 1.80 percent versus 1.83 percent at end-December.Says Q1 NPL ratio at 1.45 percent versus 1.46 percent at end-December.Says Q1 net profit 46.65 billion yuan ($6.76 billion).Says Q1 common equity tier 1 capital adequacy ratio at 11.16 percent versus 11.37 percent at end-december.  Full Article

Bank of China acquires shares of 15 village banks held by China Development Bank
Thursday, 27 Apr 2017 06:37am EDT 

April 27 (Reuters) - 3988.Hk <3988.HK>:Entered into the share transfer agreement with China Development Bank Co., Ltd.Consideration payable by the bank to china development bank for the acquisition is approximately RMB978 million.Acquisition of shares of 15 village banks held by China Development Bank which were publicly offered at Beijing Financial Assets Exchange.  Full Article

Bank of China to pay annual cash div as 0.168 yuan/share for FY 2016
Monday, 3 Apr 2017 07:30am EDT 

Bank of China Ltd <601988.SS> :Says it plans to pay annual cash dividend as 0.168 yuan(pre-tax)/share as FY 2016 div payment.  Full Article

Bank of China says FY net profit RMB 164.58 bln
Friday, 31 Mar 2017 04:47am EDT 

Bank Of China Ltd <601988.SS> : fy net profit rmb 164,578 million versus rmb 170,845 million a year ago . in 2016, group achieved a net interest income of rmb306.048 billion, a decrease of rmb22.602 billion or 6.88% . as at dec 31, capital adequacy ratio was 14.28 percent versus 14.06 percent a year ago . in 2016, group's net interest margin was 1.83%, a decrease of 29 basis points compared with prior year . as at dec 31, npl ratio was 1.46 percent versus 1.43 percent a year ago . board of directors has recommended a final dividend on ordinary shares for 2016 of rmb0.168 per share (before tax) . Bank of china ltd - domestic and international economic situation will remain complicated in 2017 . china's economy is in a critical transition period, shifting from old to new growth drivers and experiencing structural challenges. . "bank will endeavour to achieve stable and moderate credit growth and rmb loan of its domestic operations is expected to increase by 10% in 2017." . "bank will also maintain deposit business as a core business, in a bid to provide stable sources of funding for development of its asset business." ."bank will seek progress in mitigation of npas while maintaining stable asset quality".  Full Article

BOC Hong Kong announces completion of disposal of interests in Chiyu Bank
Friday, 24 Mar 2017 04:45am EDT 

BOC Hong Kong <2388.HK> : Joint Announcement - completion of the disposal of interests in Chiyu Bank . Upon completion of proposed disposal, Chiyu Bank will cease to be a subsidiary of each of Bank Of China, BOCHK (Holdings) and BOCHK .To facilitate smooth transition, transitional services deal entered into between BOCHK, Chiyu Bank and XIL on 22 Dec 2016 will take effect from completion date.  Full Article

BOC Hong Kong (Holdings) updates on acquisition of Indonesia and Cambodia businesses
Tuesday, 28 Feb 2017 03:54am EST 

BOC Hong Kong (Holdings) Ltd <2388.HK>: BOCHK has entered into acquisition agreements with Bank Of China . Agreement in relation to acquisition of Indonesia business and Cambodia business respectively, as part of restructuring exercise of group . Deal for consideration for proposed acquisition of Indonesia business is idr2,989.6 billion .Consideration for proposed acquisition of Cambodia business is usd171 million.  Full Article

Sichuan Lutianhua in discussion of debt-to-equity swap deals
Thursday, 23 Feb 2017 09:03pm EST 

Sichuan Lutianhua Co Ltd <000912.SZ> : Says it is in discussion with Bank of China, Agricultural Bank of China Ltd and local authorities of SASAC regarding debt-to-equity swap deals . Says it and units' total debts at about 6.0 billion yuan ($873.03 million) at end of 2016 .Says share trade remains suspended.  Full Article

Bank of China to set up asset management unit
Friday, 23 Dec 2016 12:55am EST 

Bank of China Ltd <601988.SS>:Says it to invest 10 billion yuan to set up an asset management unit in Beijing.  Full Article

Bank of China Hong Kong to dispose stake in Chiyu Bank for HK$7.69 bln
Thursday, 22 Dec 2016 07:59am EST 

Bank of China Hong Kong: Proposed disposal of interests in Chiyu Bank . Agreement for proposed disposal of total of 2.1 million ordinary shares of Chiyu Bank by BOCHK for a total consideration of HK$7.69 bln . Unit and indirect 66.06 pct owned unit of Bank Of China entered into sale and purchase agreement with unit of Xiamen International Investment (XIL) and Committee of Jimei Schools . Performance bond in amount of not more than HK$350 million will be provided to BOCHK pursuant to terms of sale and purchase agreement . To facilitate a smooth transition, BOCHK, Chiyu Bank and XIL entered into a transitional services agreement on 22 December 22, 2016 .Resultant proceeds from proposed disposal will facilitate development of BOCHK's business in ASEAN region.  Full Article

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Bank of China main backer as ChemChina raises $20 billion for Syngenta deal

HONG KONG ChemChina has raised $20 billion mainly in perpetual bonds to finance its purchase of Swiss seeds firm Syngenta , with Bank of China becoming the single largest investor providing half of that funding, according to a regulatory filing.