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latest news & developmentsChinese bank wants 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…
Standard Bank full-year earnings up, warns on 2008
South Africa’s Standard Bank Group said on Wednesday full-year headline earnings per share rose 23,4% to R1 033,4 cents, but it warned it would take a short-term hit from its…
Standard Bank has $2bn boost as ICBC deal closes
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.…
Standard Bank sees stronger earnings from ICBC deal
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…
ICBC to buy 20% of Standard Bank for $5,6-billion
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…