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Bank of China Ltd (3988.HK)

3988.HK on Hong Kong Stock

18 Aug 2017
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Latest Key Developments (Source: Significant Developments)

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

Bank of China's Q3 net profit at 41.78 bln yuan
Wednesday, 26 Oct 2016 07:30am EDT 

Bank Of China Ltd <601998.SS><3988.HK> : Says net interest margin at 1.85 percent at end-September versus 1.90 percent at end-June . Says NPL ratio at 1.48 percent at end-September versus 1.47 percent at end-June . Says Q3 net profit 41.78 billion yuan ($6.17 billion) .Says 9-month net profit 134.81 billion yuan.  Full Article

Bank of China says Jackson Tai resigned as independent non-executive director<3988.HK><601988.SS>
Thursday, 1 Sep 2016 04:45am EDT 

Bank of China Ltd <601988.SS>: Boc 2014 pref-...more announcement - resignation of independent non-executive director of the bank <3988.HK> . Received the resignation letter from Jackson Tai resigned as independent non-executive director . Says Jackson Tai's resignation shall become effective as of 1 September 2016 .  Full Article

Bank of China official expects asset quality to "face relatively big pressure"
Tuesday, 30 Aug 2016 05:50am EDT 

Bank of China's <601988.SS> Chief Risk Officer, Pan Yuehan, says: the bank expects asset quality to "face relatively big pressure" in foreseeable future (Reporting By Chen Yang and Matthew Miller) ((matthew.miller1@thomsonreuters.com;)).  Full Article

BRIEF-Bank of China approved election of Chen Siqing as chairman of board

* Approved election of Chen Siqing as chairman of board of directors of bank