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  • Dec 20, 2014
  • Updated: 4:41am

Bocom

HSBC eyes sell-off of other Chinese assets

Speculation HSBC may dispose of more mainland investments has been stoked by the sale of its stake in insurer Ping An. Photo: K.Y. Cheng

Following HSBC's high-profile sale of its entire holding in Ping An, China's No 2 life insurer, Europe's biggest bank is expected to dump more non-core assets it holds on the mainland this year to raise capital.

Monday, 15 April, 2013, 5:27am

Bocom says no new capital needed as profit jumps

Chairman Hu Huaibang said Bocom's non-performing loans were manageable. Photo: Dickson Lee

Bank of Communications (Bocom) said its existing capital could sustain the growth of the bank and it had no plan to raise funds in the equity market. The bank's net profit jumped 15 per cent to 58.3 billion yuan (HK$72.8 billion) last year, in line with market expectations. It declared a final dividend of 24 fen.

28 Mar 2013 - 6:31am

Business Digest

China Everbright Bank

Steward reappointed to SFC enforcer post

25 Aug 2012 - 2:10am

HSBC 'to give up option to raise stake in BoCom'

HSBC is set to give up its exclusive right to increase its stake in the Shanghai-based Bank of Communications, signalling a shift by the European giant to focus more on growing its own business on the mainland.

15 Aug 2012 - 11:14pm

Bocom cuts payout despite 30pc net rise

Bank of Communications' dividend payout has disappointed but the lender promises not to raise capital in the next few years if it completes a private placement to raise 56.6 billion yuan (HK$69.7 billion) this year.

29 Mar 2012 - 12:00am

Bocom earnings surge 107.7pc in quarter

Higher interest income coupled with lower tax payments drove up the net profit of Bank of Communications, the mainland's fifth-largest lender, by 107.7 per cent in the first quarter.

The Shanghai-based bank, which is 18.6 per cent owned by HSBC Holdings, earned 7.89 billion yuan (HK$8.8 billion) for the three months to March, meeting analysts' estimates.

30 Apr 2008 - 12:00am

Central Huijin to move shares in Bocom to Ministry of Finance

Central Huijin Investment, a subsidiary of China Investment Corp, will transfer its shares in Bank of Communications to the Ministry of Finance in an attempt to reallocate resources for overseas investment.

27 Mar 2008 - 12:00am

Interest gains lift Bocom profit 98pc

Bank of Communications (Bocom), the mainland's sixth-biggest lender, reported a 98 per cent jump in profit for the third quarter, spurred by swelling interest income and thriving fee-based services.

Bocom said it earned 5.93 billion yuan in the three months to September compared with 2.98 billion yuan a year earlier.

31 Oct 2007 - 12:00am

Bocom forecasts 63pc profit increase

Second-half surge seen as lender rides nation's fast economic expansion

Bank of Communications, the mainland's sixth-largest lender, expects earnings this year will surge 63.1 per cent to more than 20 billion yuan as it benefits from growth in the world's fastest-growing major economy.

17 Oct 2007 - 12:00am

Bocom is latest H share to join blue-chip index

Mainland lender Bank of Communications, 18.6 per cent held by HSBC Holdings, was the only stock added to the blue-chip Hang Seng Index in the latest quarterly review by its compiler HSI Services. Another favourite, China Overseas Land & Investment, was not selected.

14 Aug 2007 - 12:00am

Bocom to buy 85pc stake in Hubei Trust

Bank of Communications, the nation's sixth-largest lender, announced that it would pay up to 1.22 billion yuan for an 85 per cent stake in Hubei International Trust & Investment to broaden its operational scope amid intensified competition in the mainland banking market.

1 Jun 2007 - 12:00am

Bocom shares surge 71pc on debut in mainland

Investor enthusiasm boosts stock despite retreat in sector

Shares in Bank of Communications, the nation's sixth-largest lender, rose a better than expected 71.39 per cent during their trading debut in Shanghai yesterday.

The stock was boosted by investor enthusiasm for new listings, even as other banking shares retreated.

16 May 2007 - 12:00am

Bocom tips rise in provisions

Bank of Communications expects its general provision to rise 40 per cent this year to meet a statutory requirement.

Chief financial officer Yu Yali, during an online presentation yesterday of the bank's A-share listing, said that its general provision would rise to 6.208 billion yuan this year from 4.428 billion last year.

25 Apr 2007 - 12:00am

Bocom learns expensive lesson

Bank announces bad-loan provisions against a string of borrowers but reports interim net profit of 4.6b yuan

Smarting from bad loans to companies linked to troubled Greencool Technology Holdings, Bank of Communications (Bocom) yesterday vowed to tighten lending procedures for such borrowers.

23 Aug 2005 - 12:00am