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

BANK OF CHINA LTD (601988)
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Federal Reserve Approves Expansion Of Three Chinese Banks In US

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05/09/2012 | 08:46pm CEST
   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

Stocks mentioned in the article
ChangeLast1st jan.
AGRICULTURAL BANK OF CHINA LTD -2.51% 4.28 End-of-day quote.16.62%
BANK OF CHINA LTD -0.26% 3.78 End-of-day quote.-4.79%
INDUSTRIAL & COML CH 0.17% 29.4 End-of-day quote.0.00%
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Financials ( CNY)
Sales 2018 520 B
EBIT 2018 305 B
Net income 2018 180 B
Debt 2018 99 714 M
Yield 2018 4,83%
P/E ratio 2018 6,21
P/E ratio 2019 5,75
EV / Sales 2018 2,34x
EV / Sales 2019 2,15x
Capitalization 1 118 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
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 4,81  CNY
Spread / Average Target 27%
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
1st jan.Capitalization (M$)
BANK OF CHINA LTD-4.79%177 587
JP MORGAN CHASE & COMPANY4.24%380 160
INDUSTRIAL AND COMMERCIAL BANK OF CHINA-4.52%328 236
BANK OF AMERICA2.51%309 974
CHINA CONSTRUCTION BANK CORPORATION-3.52%272 699
WELLS FARGO-13.37%256 287