久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

US EUROPE AFRICA ASIA 中文
Business / Corporate Reports

BofA exits China's CCB with $1.5b sale

(Agencies) Updated: 2013-09-04 14:21

BofA exits China's CCB with $1.5b sale

A man walks next to a Bank of America branch in New York October 24, 2012. [Photo/Agencies]

New York - Bank of America Corp raised $1.47 billion by selling its remaining stake in China Construction Bank Corp (CCB), ending an eight year-old investment that generated a paper profit more than five times the original cost.

The Charlotte, North Carolina-based bank sold 2 billion Hong Kong-listed shares of CCB at HK$5.70 each, a 3.9 percent discount to Tuesday's close, a term sheet of the deal seen by Reuters showed. CCB's Hong Kong traded shares fell 2.2 percent on Wednesday.

BofA joins a list of Western financial institutions that have found that their investments in Chinese financial firms did not give them the foothold they had hoped for in that country.

"The only thing that will be central to banking in China will be China's domestic banks," said Donald Straszheim, head of China research at International Strategy & Investment Group in Los Angeles.

Bank of America's exit makes it the second US bank to completely sell out of a China bank investment this year, after Goldman Sachs offloaded its remaining $1.1 billion stake in Industrial and Commercial Bank of China Ltd.

Goldman Sachs grossed $10.1 billion from selling its ICBC stake after investing $2.58 billion in 2006, using internal funds that invest a mix of client, employee and corporate cash.

BofA's past three sales of CCB stock since August 2011 have helped raise $16.37 billion, according to Reuters calculations.

The original 9.9 percent stake was purchased by Merrill Lynch for $3 billion in 2005 ahead of the Chinese bank's initial public offering. BofA assumed the stake when it purchased Merrill after the bank and brokerage nearly collapsed in the 2008 financial crisis.

The Chinese banking system has shown signs of stress, with bad loans picking up as economic growth slows. As a result, several Chinese lenders are preparing to launch equity sales to bolster their capital bases.

But even before the Chinese banking sector weakened, many US and European banks decided to sell the assets to bolster their own capital bases and focus on their main businesses.

Since US and European banks began building stakes in Chinese banks, new international capital rules have been formulated, which will make it more expensive for them to own shares of other financial institutions.

Bank of America said on Tuesday that it expects to record about a $750 million gain before taxes on the stake sale. With that profit, its total gains from dividends and selling shares will amount to nearly $18 billion before taxes, according to regulatory filings between 2009 and 2013.

At the time, Bank of America's then chief executive Kenneth Lewis said the partnership was designed to give Bank of America more access to roughly 1.3 billion Chinese consumers, while CCB would benefit from BofA's US retail banking experience.

The US bank increased its holdings in following years, before paring it down starting in 2009. In 2011, the bank raised a combined $14.9 billion from selling shares in CCB to a group of investors that included Singapore's Temasek Holdings.

Bank of America launched Tuesday's sale after a lock-up on its remaining stake expired last month. The bank will continue its strategic partnership with CCB in business areas like customer service and sales models, the bank said in a press release.

Bank of America shares closed at $14.25 on Tuesday, up nearly 1 percent from Friday's close.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    一区二区成人在线| 五月天亚洲婷婷| 91色视频在线| 亚洲午夜视频在线观看| 欧美欧美欧美欧美| 国产在线看一区| 国产精品福利影院| 欧美日韩一区三区四区| 另类小说色综合网站| 国产精品你懂的| 欧美视频一区二区三区在线观看| 奇米精品一区二区三区在线观看| 久久亚洲综合色| 91免费看视频| 免费观看在线综合| 中文字幕乱码久久午夜不卡| 欧美亚日韩国产aⅴ精品中极品| 免费在线一区观看| 中文字幕 久热精品 视频在线| 91年精品国产| 美女视频黄 久久| 国产精品萝li| 欧美顶级少妇做爰| 成人永久aaa| 亚洲va国产天堂va久久en| 26uuu欧美日本| 91浏览器在线视频| 久久99久久99| 亚洲色图一区二区| 日韩欧美国产电影| 99久久国产综合精品女不卡| 日本不卡免费在线视频| 国产精品嫩草久久久久| 4hu四虎永久在线影院成人| 成人激情电影免费在线观看| 天堂蜜桃91精品| 国产精品久久久久一区二区三区| 欧美精品自拍偷拍| 波多野结衣在线一区| 日本亚洲视频在线| 日韩理论片一区二区| 欧美va在线播放| 91高清视频在线| 国产成人免费视频一区| 婷婷成人激情在线网| 国产精品乱码妇女bbbb| 欧美一区二区三区不卡| 91麻豆123| 日韩欧美国产综合在线一区二区三区| 免费看日韩精品| 亚洲国产精品精华液ab| 欧美精品123区| 99久久免费国产| 国产在线麻豆精品观看| 香蕉av福利精品导航| 国产精品国产三级国产aⅴ中文| 日韩免费看网站| 欧美日韩一区三区| 92精品国产成人观看免费| 国产麻豆精品一区二区| 日韩成人精品在线观看| 一区二区三区中文字幕在线观看| 国产亚洲综合在线| 日韩精品一区二区三区在线播放| 91精品1区2区| aa级大片欧美| 国产成人精品1024| 精品中文av资源站在线观看| 视频在线观看91| 一区二区免费视频| 综合网在线视频| 中文字幕乱码日本亚洲一区二区| 26uuu另类欧美亚洲曰本| 91精品国产手机| 欧美日韩免费电影| 色老头久久综合| 99精品国产热久久91蜜凸| 国产成人aaa| 国产美女在线观看一区| 精品亚洲国产成人av制服丝袜 | 综合亚洲深深色噜噜狠狠网站| 国产午夜精品美女毛片视频| 精品久久久久久综合日本欧美| 91精品黄色片免费大全| 国产精品视频第一区| 国产亚洲女人久久久久毛片| 26uuu国产日韩综合| 日韩免费在线观看| 欧美变态tickle挠乳网站| 日韩一区二区精品| 日韩三级中文字幕| 91精品国产综合久久久久久漫画| 666欧美在线视频| 欧美精品日日鲁夜夜添| 欧美日韩成人在线一区| 在线观看91av| 91精品国产高清一区二区三区 | 欧美日韩久久久一区| 欧美美女黄视频| 欧美美女激情18p| 91精品在线观看入口| 欧美一区日韩一区| 日韩你懂的在线播放| 精品久久久网站| 久久综合狠狠综合| 欧美激情一区二区| 国产精品成人免费在线| 亚洲婷婷在线视频| 亚洲综合色区另类av| 亚洲成年人网站在线观看| 婷婷久久综合九色国产成人 | 99re在线视频这里只有精品| 91小视频免费看| 欧美亚洲动漫另类| 欧美一区2区视频在线观看| 欧美电影精品一区二区| 久久精品亚洲麻豆av一区二区| 欧美国产在线观看| 亚洲日本va午夜在线影院| 亚洲国产aⅴ成人精品无吗| 丝袜美腿亚洲综合| 久久精品国产久精国产| 国产精品1区二区.| 91免费国产在线| 欧美日韩国产影片| 精品久久久久av影院 | 天堂一区二区在线免费观看| 老司机免费视频一区二区 | 色先锋aa成人| 欧美精品一卡两卡| 26uuu成人网一区二区三区| 国产精品免费观看视频| 亚洲一区二区在线免费观看视频| 日韩高清在线不卡| 国产激情91久久精品导航 | 91精品免费在线观看| 久久伊99综合婷婷久久伊| 亚洲视频免费看| 日本不卡的三区四区五区| 国产福利一区二区三区视频在线| 91亚洲精品一区二区乱码| 5858s免费视频成人| 久久精品一区蜜桃臀影院| 亚洲乱码日产精品bd| 欧美aaaaaa午夜精品| 成人性视频网站| 欧美日韩精品免费| 国产亚洲一区二区三区四区| 一区二区高清在线| 国内精品伊人久久久久av影院 | 欧美日韩国产天堂| 久久久久久免费网| 亚洲一区二区三区在线播放| 久久国产夜色精品鲁鲁99| 91亚洲精品一区二区乱码| 日韩一级二级三级精品视频| 中文字幕在线一区免费| 蜜桃视频在线一区| 91美女精品福利| 精品国产免费久久| 一区二区三区中文字幕在线观看| 经典三级视频一区| 欧美午夜精品电影| 国产欧美日韩精品a在线观看| 午夜亚洲福利老司机| 国产成人亚洲综合a∨婷婷| 欧美日韩欧美一区二区| 国产免费成人在线视频| 日本亚洲欧美天堂免费| 91在线免费看| 久久伊人蜜桃av一区二区| 亚洲成国产人片在线观看| 成人久久视频在线观看| 欧美一区二区三区在| 亚洲美女在线国产| 国产精品乡下勾搭老头1| 555www色欧美视频| 亚洲欧美日韩系列| 国产精品一色哟哟哟| 91精品国产综合久久精品app| 亚洲欧洲日韩av| 国产一区亚洲一区| 制服丝袜亚洲精品中文字幕| 亚洲色图色小说| 国产成人在线视频免费播放| 欧美一区二区三区视频在线| 亚洲欧洲国产专区| 日韩黄色小视频| www.激情成人| 久久精品亚洲精品国产欧美| 五月天中文字幕一区二区| 色综合中文字幕国产| 欧美xfplay| 三级成人在线视频| 欧洲av在线精品| 亚洲色图在线视频| 成人黄页在线观看| 久久网站热最新地址| 蜜臀av亚洲一区中文字幕| 欧美日本视频在线|