South African banking group FirstRand on Friday said it was not in talks with a Chinese bank over selling a stake. ”We are not in discussions with a Chinese bank,” FirstRand spokesperson Sam Moss said. Shares in FirstRand rose earlier on Friday after the China Daily reported that a state-owned Chinese bank was in talks to buy a stake in First National Bank.
A major, but unidentified Chinese bank is in talks to buy a stake in South Africa’s second-largest lender First National Bank, a media report said on Friday. If carried out, the transaction will follow in the footsteps of Industrial and Commercial Bank of China, which recently agreed to buy a 20% stake in Standard Bank.
Standard Bank has received a R16-billion boost to its capital base after completion of a deal in which China’s biggest lender ICBC took a 20% stake, it said on Monday. International and Commercial Bank of China, the world’s biggest lender by assets, said in October last year it would pay ,5-billion for the stake in Standard Bank.
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/ 4 February 2008
Chinese regulators have given permission for Industrial and Commercial Bank (ICBC) of China, the nation’s largest lender, to buy a 20% stake in Standard Bank, ICBC said. Shareholders of Standard Bank and South African regulators have already approved the deal.
The names of three banks and the word "stocks" beat "sex" to become four of the most Googled words in China last year, according to a Google China list seen on Thursday. China Merchants Bank, Industrial and Commercial Bank of China and China Construction Bank ranked second, third and sixth, according to a list supplied by Google China on its website.
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/ 4 December 2007
Resource heavyweights Anglo American and BHP Billiton continued to weigh on the JSE in midday trade on Tuesday, with the all-share pulling back almost half a percent from its earlier levels. By midday, the JSE all-share index dropped 0,69% as resources gave up 0,96%. The gold-mining index shed 0,12% but the platinum-mining index improved 0,42%. Industrials lost 0,53%.
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/ 29 November 2007
Standard Bank’s position as one of the world’s leading emerging markets banks was endorsed on Wednesday night with the company winning eight awards, including the prestigious Emerging Markets Bank of the Year, at <i>The Banker</i> awards of 2007.
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/ 23 November 2007
World markets injected some life into the JSE at midday on Friday as the all-share index lifted 0,90%, led by a 1,78% gain in resources. By noon the gold mining index collected 0,35%, but the platinum mining index was up a slight 0,06%. Financials advanced 0,51% and banks inched up 0,28%. Industrials were 0,09% in the black.
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/ 26 October 2007
China has served notice it is accelerating its investment drive in Africa towards full throttle with the planned ,6-billion cash purchase of a major stake in Standard Bank by Beijing’s biggest lender. China’s ICBC bank said on Thursday it is to buy 20% of Standard Bank, the biggest foreign acquisition by a Chinese commercial bank to date.
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/ 26 October 2007
Solid gains in bank stocks pushed the JSE further into the black at midday on Friday, while platinum stocks added some extra light. At noon on the JSE, the all-share index was 0,62% higher as banks collected 2,01% and financials added 1,08%. The platinum mining index added 1,24% and resources edged up 0,29%.
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/ 25 October 2007
China’s biggest lender ICBC is to buy 20% of South Africa’s Standard Bank for R36,67-billion (,6-billion) in cash, in the biggest foreign investment yet in Africa. The move announced on Thursday comes as Beijing encourages major state firms to expand abroad, particularly in developing countries.
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/ 25 October 2007
South African bank shares leapt on Thursday after reports that China’s biggest bank, Industrial and Commercial Bank of China, has agreed to buy a 20% stake in Standard Bank, in a deal reported to be worth ,5-billion. Trading in Standard Bank shares was halted ahead of the release of a statement by the bank on the outcome of negotiations.