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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Bank of China Ltd    601988   CNE000001N05

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Federal Reserve Approves Expansion Of Three Chinese Banks In US

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05/09/2012 | 08:46pm CET
   By Michael R. Crittenden 
   Of  

The Federal Reserve said Wednesday it approved the expansion of the U.S. operations of three of China's largest banks, including the first acquisition of a U.S. bank by a Chinese bank.

The Fed said it had approved applications from the Bank of China Ltd. and Agricultural Bank of China Ltd. to establish new branches. The central bank also approved an application by China's largest bank, Industrial and Commercial Bank of China Ltd., to become a bank holding company through its acquisition of The Bank of East Asia.

The five Fed board members voted unanimously in favor of each of the applications, which come from the first, third and fourth largest banks in China. All of the banks are at least 70% owned by the Chinese government and had at least $1.85 trillion in assets at the end of last year.

-By Michael R. Crittenden, of Dow Jones Newswires; [email protected]; 202-862-9273

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Financials ( CNY)
Sales 2017 485 B
EBIT 2017 277 B
Net income 2017 162 B
Debt 2017 99 714 M
Yield 2017 4,41%
P/E ratio 2017 6,73
P/E ratio 2018 6,38
EV / Sales 2017 3,04x
EV / Sales 2018 2,80x
Capitalization 1 373 B
Chart BANK OF CHINA LTD
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Bank of China Ltd Technical Analysis Chart | 601988 | CNE000001N05 | 4-Traders
Technical analysis trends BANK OF CHINA LTD
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 4,51  CNY
Spread / Average Target 15%
EPS Revisions
Managers
NameTitle
Si Qing Chen Chairman
Xi Quan Wang Chairman-Supervisory Board
Qing Song Zhang Chief Information Officer & Executive VP
Wan Ming Liu Member-Supervisory Board
Zhi Ying Deng Member-Supervisory Board
Sector and Competitors
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BANK OF CHINA LTD12.50%207 269
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WELLS FARGO-1.74%266 844
CHINA CONSTRUCTION BANK CORPORATION25.74%235 330