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Minsheng Bank Profit Up 68.6%, ICBC Completes African Share Deal
1398.HK, 600016.SH, 601398.SH, China Minsheng Banking Corporation, ICBC, Industrial and Commercial Bank of China, Minsheng Bank, Standard Bank Group
Posted by: Li Jun on Mar 04, 2008 | 16:03
Editorial Summary
China Minsheng Banking Corporation's (600016.SH) net profit rose 68.6 percent year-on-year to reach RMB6.3 billion in 2007, according a filing with the Shanghai Stock Exchange. Shares of the bank fell 2.37 percent to close at RMB13.58 on Tuesday.
Industrial and Commercial Bank of China (ICBC) (601398.SH, 1398.HK) finished its acquisition of a 20 percent stake in Standard Bank Group Ltd, the largest bank in Africa in terms of assets, for RMB33.8 billion on Monday, according to a company filing. Shares of ICBC fell 3.34 percent to close at RMB6.36 in Shanghai on Tuesday.
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