BEIJING, Aug. 29 (Xinhua) -- Industrial and Commercial Bank of China (ICBC) announced on Wednesday that it had paid 4.68 billion patacas (590 million U.S. dollars) to buy a 79.93-percent stake of Seng Heng Bank in Macao.
Seng Heng Bank is Macao's third largest commercial bank in terms of total assets. It has nine branches in the special administrative region and provides a variety of financial services including corporate and personal finance.
Statistics showed by the end of 2006, the Macao lender's assets totaled 25.39 billion patacas.
The deal is still waiting for approval from the ICBC shareholders' meeting, China Banking Regulatory Commission and the Monetary Authority of Macao, according to an ICBC official.
The official said ICBC would strengthen risk management of the Macao-based lender and run the bank in strictaccordance with both mainland's and Macao's laws to make contributions to local economic development.
ICBC has 16,807 outlets in the Chinese mainland and 98 overseas branches and offices. It also has 1,326 agent banks around the world.
ICBC's acquisition of Seng Heng Bank would extend the mainland lender's business in the region and help it establish a leading position in the local market, said experts.
关键字:财经新闻
生词表:
Seng Heng Bank is Macao's third largest commercial bank in terms of total assets. It has nine branches in the special administrative region and provides a variety of financial services including corporate and personal finance.
Statistics showed by the end of 2006, the Macao lender's assets totaled 25.39 billion patacas.
The deal is still waiting for approval from the ICBC shareholders' meeting, China Banking Regulatory Commission and the Monetary Authority of Macao, according to an ICBC official.
The official said ICBC would strengthen risk management of the Macao-based lender and run the bank in strictaccordance with both mainland's and Macao's laws to make contributions to local economic development.
ICBC has 16,807 outlets in the Chinese mainland and 98 overseas branches and offices. It also has 1,326 agent banks around the world.
ICBC's acquisition of Seng Heng Bank would extend the mainland lender's business in the region and help it establish a leading position in the local market, said experts.
关键字:财经新闻
生词表:
- administrative [əd´ministrətiv]
a.管理的，行政的 四级词汇 - statistics [stə´tistiks] n.统计学；统计 四级词汇
- banking [´bæŋkiŋ] n.银行业 四级词汇
- monetary [´mʌnitəri] a.金融的；货币的 六级词汇
- mainland [´meinlənd] n.大陆；本土 四级词汇
- overseas [,əuvə´si:z] ad.(向)海外 a.海外的 六级词汇
- acquisition [,ækwi´ziʃən] n.获得；获得物 六级词汇
京公网安备 11011202003401号
