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

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Report: Bank of China to pay fine in Italy money-laundering

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02/17/2017 | 08:08pm CET

MILAN (AP) — Italian media says the Bank of China has agreed to pay a 600,000-euro ($640,000) fine as part of a plea deal in a 4.5-billion-euro money laundering probe.

The news agency ANSA reported that at a preliminary hearing on Friday, a judge also convicted four bank officials of money-laundering, while dropping an aggravating charge of employing Mafia methods, and handed down suspended two-year sentences.

The judge also ordered the seizure of 980,000 euros, ANSA said, a sum equal to what prosecutors say were the bank's profits in the scheme.

The Bank of China said the plea deal was aimed at "avoiding a long trial and allowing the Milan branch to concentrate on developing its own business." It said the Milan branch had respected national and international laws.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed., source Associated Press News

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Financials ( CNY)
Sales 2016 484 339 M
EBIT 2016 264 097 M
Net income 2016 166 588 M
Debt 2016 99 714 M
Yield 2016 4,58%
P/E ratio 2016 6,58
P/E ratio 2017 6,54
EV / Sales 2016 3,03x
EV / Sales 2017 2,92x
Capitalization 1 368 735 M
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 4,10  CNY
Spread / Average Target 11%
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NameTitle
Si Qing Chen Vice Chairman & President
Jun Li Chairman-Supervisory Board
Guo Li Tian Chairman
Qingsong Zhang GM-Accounting & Information & EVP
Wan Ming Liu Member-Supervisory Board
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