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  • April 17, 2014
  • Last updated: 12:43am
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  1. Business - Banking & Finance - RESULTS

    Bank of China profit growth slows to 7.6pc in first six months

    Posted Aug 25th 2012, 12:00am by Lulu Chen

    ... Lulu Chen lulu.chen@scmp.com BOC blames weaker economy for slower earnings growth Bank of China, the mainland's fourth-largest lender by assets, said it would stem the slide in credit quality and boost fee income, after profit growth slowed sharply in the first half. Net profit rose 7.6 per cent to 71.6 billion yuan (HK$87.6 billion) in the first six months compared ...

  2. Business - Banking & Finance - EARNINGS

    BOC boosts net profit 12.3pc

    Posted Mar 27th 2014, 12:58am by Zhang Hong and Celine Sun

    ... Zhang Hong and Celine Sun in Beijing Mainland bank braces for challenge from a slowing economy after increased loans, cost cuts and expansion help boost profit 12.3pc BOC reaps from rise ... BOC president Chen Siqing said at a press conference yesterday. "We need to increase investment and speed up overseas expansion while improving the asset quality of domestic businesses ...

  3. Business - Banking & Finance - CURRENCIES

    BOC Hong Kong fends off new competition in yuan trading

    Posted Feb 17th 2014, 04:47am by KANIIS LI, Jeanny Yu

    ... Kanis Li and Jeanny Yu Gradual liberalisation of the renminbi sees Bank of China's HK unit step up marketing efforts after losing sole clearing bank status BOCHK fends off new competition in yuan trading The Hong Kong unit of the state-owned Bank of ...

  4. Business - Banking & Finance - APPOINTMENTS

    CIC, BOC promote key officials

    Posted Jan 22nd 2014, 12:54am by Zhang Hong

    ... Zhang Hong in Beijing zhang.hong@scmp.com CIC, BOC promote key financial officials Two top financial officials on the mainland have stepped down after reaching the mandatory retirement age ... sources said. Meanwhile, Bank of China president Li Lihui has also stepped down and is moving to a commission under the National People's Congress. Former BOC vice-president Chen Siqing, 52, ...

  5. Business - Banking & Finance - CURRENCIES

    London challenges Hong Kong with BOC's yuan bond

    Posted Jan 09th 2014, 01:49pm by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com London challenges HK with BOC's yuan bond Bank of China's London branch yesterday made a landmark bond issue, underscoring the city's potential as a hub of yuan fundraising for European debt issuers and posing a threat to Hong Kong. European deals account for more than 10 per cent of global yuan debt issues every year and have so far been ...

  6. Business - Banking & Finance - EXPANSION

    BOC Fullerton to boost rural presence

    Posted Nov 25th 2013, 03:52am by JANE CAI

    ... Jane Cai in Beijing xuejun.cai@scmp.com Mainland lender expects strong market growth and aims to double the number of units to 80, targeting underserved farmers and small firms BOC Fullerton to boost rural presence BOC Fullerton Community Bank plans to double its presence on the mainland by operating 80 rural banks by the end of next year. It is targeting underserved farmers ...

  7. Business - China Business - LISTINGS

    US$6b tag still in frame for WH Group offering

    Posted Apr 10th 2014, 01:01am by Reuters

    ... the offering, surpassing the record 21 mandated for China Galaxy Securities' US$1.1 billion float last year. BOC International, Citic Securities International, DBS, Goldman Sachs, Morgan Stanley, ...

  8. News - Hong Kong - CRIME

    Alert after more fake HK$1,000 notes seized

    Posted Dec 27th 2013, 03:03am by Darren Wee and Amy Nip

    ... police had seized fake notes bearing the HSBC name in casinos. All previous fakes discovered were copies of notes issued by the Bank of China (BOC), prompting fears the scale of the problem might be bigger than initially thought. Reports from the former Portuguese enclave said police seized 28 fake HK$1,000 notes in casinos- 13 of them HSBC copies and the rest BOC ones. The issue date ...

  9. Business - Economy - CURRENCIES

    Yuan trade to start in Taiwan in weeks

    Posted Jan 26th 2013, 12:00am by Daniel Ren

    ... Daniel Ren in Shanghai ren.wei@scmp.com Yuan trade to start in Taiwan in weeks The central bank has appointed Bank of China's Taipei branch to clear yuan transactions in Taiwan, in the latest step to strengthen economic ties between the mainland and the island. The People's Bank of China signed a clearing agreement with the BOC branch yesterday, under which Taiwan ...

  10. Business - Banking & Finance - BANKING

    Bank of China posts sharply lower profit growth

    Posted Aug 24th 2012, 12:00am by Lulu Chen

    ... that while BOC's results were in line with industry trends, an uptick in overdue loans and bad debt in Zhejiang province raised red flags. Total overdue loans, which are not yet classified ... aside in the year-earlier half. BOC's income from fee-based businesses, such as trade finance and services, dropped 2 per cent to 34.3 billion yuan in the first half, mainly because ...




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