FROM YAHOO NEWS Latest news, live updates as 2024 election results loom OTC Markets OTCPK ? USD Bank of China Limited (BACHF) Follow Compare 0.4500 -0.0500 (-10.00%) At close: November 5 at 3:00 PM EST All News Press Releases SEC Filings All SEC Filings Corporate Changes & Voting Matters Periodic Financial Reports Proxy Statements Tender Offer/Acquisition Reports Offering Registrations China's big banks post Q3 profit gains, squeeze on net interest margins China's largest lenders posted increases in their third-quarter profits on Wednesday, mostly on reduced provisions, with slimmer net interest margins for some. The frontrunner was Agricultural Bank of China Ltd (AgBank), which reported a 5.88% rise in third-quarter net profit. AgBank, Industrial and Commercial Bank of China Ltd (ICBC) and China Construction Bank Corp (CCB) all posted sluggish growth or a drop in pre-provisions operating income, indicating the banks reduced provisions to boost net profit growth. Reuters ? 6 days ago ACGBF 0.00% IDCBF 0.00% BACHF -10.00% IMF Lowers Global Growth Forecast, Warns of Increasing Risks (Bloomberg) -- The International Monetary Fund lowered its global growth forecast for next year and warned of accelerating risks from wars to trade protectionism, even as it credited central banks for taming inflation without sending nations into recession.Most Read from BloombergClimate Change Is Killing Buildings in Slow MotionHow Kyiv Became a Leader in Digital Services Amid Wartime StrainTransportation Policy Gets Left Behind in Presidential RaceDhaka's Revolutionary Makeover Pits Visions of Bloomberg ? 14 days ago 3988.HK The People's Bank of China Joins the Rate-Cut Party. Brace for More Stimulus. China's central bank followed the Federal Reserve's lead by cutting interest rates on Monday. Minutes before cutting its 14-day repurchase rate to 1.85%, it was announced that People's Bank of China governor Pan Gongsheng will give a surprise press conference on Tuesday. Deflation, high youth unemployment, and a seemingly never-ending property crisis have all battered the world's second-largest economy in recent years, sparking concerns that growth could fall short of official targets. Barrons.com ? last month BACHF -10.00% Top SEHK Dividend Stocks To Watch In September 2024 As global markets react to interest rate cuts and economic data, the Hong Kong market has shown resilience amidst a backdrop of fluctuating inflation and trade dynamics. With this in mind, investors may find dividend stocks particularly appealing for their potential to provide steady income regardless of market volatility. A good dividend stock often combines strong fundamentals with a consistent payout history, making it an attractive option for those seeking stability in uncertain times. Simply Wall St. ? last month ZHSHF ZSHGY 3988.HK Liu Jin resigns as Bank of China's president for undisclosed 'personal reason' Liu Jin has resigned as the vice-chairman and president of China's largest global bank, in a surprise move five months after his reappointment to the lender's top executive job. Liu resigned for "personal reasons" from Bank of China, effective August 25, the state-owned bank said in a Sunday filing to the stock exchange, without elaborating. The bank's Beijing spokespeople declined to comment. The move came as a surprise as Liu, born in 1967, has yet to reach the official retirement age of 60 ye South China Morning Post ? 2 months ago BACHF -10.00% Bank of China President Liu Jin resigns BEIJING (Reuters) -Bank of China Vice Chairman and President Liu Jin resigned for personal reasons effective on Sunday, the bank said. The state-owned lender said its board had approved Chairman Ge Haijiao to serve as acting president, according to a filing released by the bank on Sunday. Bank of China (BOC) did not immediately reply to a request for comment. Reuters ? 2 months ago BACHF -10.00% 3 SEHK Dividend Stocks Yielding Over 6% For Your Portfolio The Hong Kong market has shown resilience amid global economic uncertainties, with the Hang Seng Index recently posting a 1.99% gain. As investors navigate these fluctuating conditions, dividend stocks yielding over 6% can offer a reliable income stream and potential portfolio stability. Simply Wall St. ? 2 months ago 3988.HK CHBJF CHCJY PwC loses major client Bank of China amid regulatory probe Auditor PwC has lost its largest mainland China-listed client, Bank of China, to rival EY, adding to an exodus of clientele amid a regulatory investigation into its work on troubled property developer China Evergrande Group. State-owned Bank of China had as recently as March stated plans to reappoint PwC as its auditor for 2024 but in a filing late on Monday said it plans to appoint EY. PwC, once the leading auditing firm in China, declined to comment. Reuters ? 2 months ago BACHF -10.00% Hong Kong signs agreement with People's Bank of China to enhance Faster Payment System The Hong Kong Monetary Authority (HKMA) has signed an agreement with the Chinese central bank to promote cross-border linkages for the Faster Payment System (FPS), creating a framework for facilitating more commerce and people flows on both sides. The announcement came after Friday's meeting between deputy governor of the People's Bank of China (PBOC) Lu Lei and HKMA's deputy CEO Howard Lee, where the two exchanged views on deepening financial cooperation between mainland China and Hong Kong. En South China Morning Post ? 3 months ago BACHF -10.00% Discover Three High-Yielding Dividend Stocks In Hong Kong With Yields Up To 6.7% Amidst a backdrop of fluctuating global markets, the Hong Kong stock market has shown resilience with the Hang Seng Index experiencing an uplift. This environment may pique the interest of investors looking for stable returns, making high-yielding dividend stocks particularly appealing as they offer potential income alongside capital appreciation opportunities. Simply Wall St. ? 4 months ago 3988.HK BSDGF BSDGY Exploring Ten Pao Group Holdings And Two More Leading Dividend Stocks Amid a backdrop of fluctuating global markets, Hong Kong's Hang Seng Index has shown resilience, gaining 3.11% recently. This positive movement in the market underscores the importance of considering dividend stocks, which can offer investors potential income stability and growth opportunities in varying economic climates. Simply Wall St. ? 5 months ago 3988.HK 0239.HK TNPOF China Construction Bank sees more policy support from Beijing, despite pressure on state-owned lenders to boost profit China Construction Bank (CCB) expects Beijing to introduce more policy support to bolster the economy, even as the nation's major state-owned lenders continue to face pressure to boost profits amid the prospect of benchmark rates decreasing further. "China's economy is showing signs of recovery, but there is room for more policy support, and big banks need to continue to support the real economy," CCB chief financial officer Sheng Liurong said on Tuesday during the bank's latest financial result South China Morning Post ? 7 months ago BACHF -10.00% CICHF 0.00% CCB, BOC and China Everbright among Chinese lenders that have injected billions into 'whitelist' housing projects Leading Chinese banks have injected billions of yuan into housing projects with the aim of financing the completion of pre-sold but yet-to-be-completed homes across the country, according to figures released by the lenders. The initiative, which falls under the so-called whitelist mechanism, is part of Beijing's efforts to revive a weakening property sector that accounts for a quarter of China's gross domestic product. China Construction Bank (CCB), one of the largest state-owned commercial bank South China Morning Post ? 8 months ago BACHF -10.00% CEBCF Chinese yuan gives US dollar a run for its money as African trade embraces other currencies When you land at the Kenneth Kaunda International Airport in Lusaka, one of the billboards welcoming you to the Zambian capital advertises the services of the Bank of China (BOC). There are not many countries in Africa where the Chinese government-owned financial institution offers fully fledged banking services in renminbi (RMB), the official Chinese currency. Apart from Zambia, BOC has a branch in Johannesburg, South Africa, and it also has a representative office in Kenya's capital, Nairobi. South China Morning Post ? 9 months ago USD=X BACHF -10.00% China Records First Cross-Border Settlement for Precious Metals Using e-CNY CBDC China recorded its first-ever cross-border settlement for precious metals using the digital yuan central bank digital currency (CBDC), also known as the e-CNY. CoinMarketCap ? 10 months ago BACHF -10.00% Performance Overview Trailing total returns as of 11/6/2024, which may include dividends or other distributions. Benchmark is SSE Composite Index Return BACHF SSE Composite Index YTD +26.45% +14.03% 1-Year +37.28% +11.93% 3-Year +58.13% -2.84%
