The inaugural investment conference has brought promises of funding to the tune of billions to strengthen the economy
The president was clear about accelerating the provision of land to the poor and marginalised
The country’s biggest banking group in terms of assets has reported an 11% increase in normalised headline earnings for the six months ended June 30.
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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/ 23 November 2007
Standard Bank expects as much as -million in incremental earnings by the third year of the deal in which China’s biggest lender ICBC will buy a 20% stake for ,6-billion, it said on Friday. Standard Bank said in a presentation on its website that the bank expects incremental earnings of -million to -million.
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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.