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  1. BOC profit up 84pc in first-half rebound

    Posted Jul 18th 2003, 12:00am by Christine Chan

    ... Bank of China, the country's biggest foreign-exchange bank, said yesterday its pre-tax profit soared 84.53 per cent to 12.96 billion yuan (HK$12 billion) year on year in the first half. In the same period last year the bank reported a 36.7 per cent f ...

  2. BoC sacks head of Shanghai branch

    Posted Jul 08th 2003, 12:00am by Christine Chan

    ... The Bank of China yesterday confirmed the head of its Shanghai branch had been sacked for loans granted under his reign to a company controlled by one of the city's property tycoons. A bank spokesman said Zhou Lu had been removed as the general manag ...

  3. Analysts lift BOCHK outlook

    Posted Jan 08th 2004, 12:00am by Christine Chan

    ... Analysts have upgraded the earnings outlook for BOC Hong Kong (Holdings) (BOCHK), a day after Beijing said it would pump US$22.5 billion into its parent, Bank of China (BOC). Fellow Big ... and by 8 per cent to $10.5 billion next year. The target price was lifted to $17.10. 'The capital injection should be more than enough to restructure the BOC group,' said Tracy Yu, a banking ...

  4. Recapitalisation of top banks nears

    Posted Sep 09th 2003, 12:00am by Christine Chan

    ... undercapitalised, the big four state banks - the Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), China Construction Bank (CCB) and the Agricultural Bank of China (ABC) - need capital ...

  5. Cash-call fears spook investors

    Posted Dec 17th 2003, 12:00am by Christine Chan

    ... The Hang Seng Index suffers its biggest fall in six weeks as the BOC sell-down sparks speculation of more share sales The stock market recorded its biggest drop in six weeks yesterday, triggered by the massive placement of shares in Bank of China's Hong Kong-listed unit. The BOC Hong Kong (Holdings) share placement was reasonably well-received in the market and the share ...

  6. PICC's clearance to list due 'within days'

    Posted Sep 29th 2003, 12:00am by Christine Chan

    ... state-owned banks have yet to acquire much of a presence on the Hong Kong stock exchange with the exception of BOC Hong Kong (Holdings), which is geared more towards Hong Kong's economy than ...

  7. Ford Credit issue points to rise of HK market for retail bonds

    Posted Sep 25th 2003, 12:00am by Christine Chan

    ... as the prevailing near-zero interest rates on bank deposits prompt a search for higher, safer returns. The frenzy for retail bonds is best illustrated by a number of recent offers. In July, BOC Hong Kong ...

  8. Receivers invite offers for stake in Shanghai Land

    Posted Jul 29th 2003, 12:00am by Christine Chan

    ... Potential buyers of a large Shanghai Land Holdings stake are being asked to come up with a preliminary offer, it was revealed yesterday. Up for sale is the 75 per cent stake in Hong Kong-listed Shanghai Land held by chairman Chau Ching-ngai through privately held New Nongkai Global Investments. The stake has been secured by BOC Hong Kong (Holdings) against a loan made to New ...

  9. BOCHK closes 10 more banks

    Posted Jul 22nd 2003, 12:00am by Christine Chan

    ... BOC Hong Kong (Holdings) has closed more than 10 bank branches in the first half of the year, bringing to more than 40 the total shut since the group's 2001 merger, deputy chief executive David Lam Yim-nam said yesterday. The merger of Bank of China's Hong Kong branch with nine sister banks resulted in large overlapping networks. Last year, BOCHK closed more than 31 ...

  10. UBS cuts BOCHK earnings forecast

    Posted Jul 19th 2003, 12:00am by Christine Chan

    ... UBS has lowered its earnings forecast for BOC Hong Kong (Holdings) for the first time since the bank's listing last year. Last month, the co-sponsor of the bank's US$2.6 billion listing slashed its target price for BOCHK by 23.4 per cent to HK$7.50 from $9.80 but fell short of marking down its profit forecast, despite a spate of downgrades by fellow brokerages. However, ...




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