The Industrial and Commercial Bank of China will sell R10-billion worth of rand bonds, making it the first Asian issuer of rand-denominated debt.
The former president of China’s biggest bank, Yang Kaisheng, has been appointed as Standard Bank Group’s new deputy chairperson.
Soaring purchases of gold bullion and the rising jewellery sales are helping China become the world’s biggest market for gold.
Standard Bank, Africa’s top bank by assets, has signed a -billion loan facility with four major Chinese banks in Macau, it said on Friday.
Chinese mining firms are gearing up to take advantage of the global downturn and seek M&A mining deals at bargain prices next year.
Standard Bank Group, 20% owned by the Industrial and Commercial Bank of China (ICBC), will explore global banking acquisition opportunities jointly with its Chinese partner.
