The Bank of Australia (CBA) has signed a contract to sell the remaining 5.45 % shares of the Hangzhou Bank (HZB) to the New Chinese Book Insurance (NCI).
With this transaction, CBA is expected to generate about 940 million dollars ($ 593 million).
Hangzhou Bank was established in September 1996, in Zhejiang Province, China, and is listed on the Shanghai Stock Exchange.
It is expected that when the sale is completed, the ratio of CBA’s ordinary stock Tier1 (CET1) will be estimated by 18 basis points in accordance with the standards of Australian sound regulations.
This calculation is based on group risk -weighted assets as of September 30, 2024.
CBA’s CEO Matcamin, CEO, said: “The CBA has been a long -standing shareholder of HZB since the first investment in 2005, and I am glad that HZB has contributed to the entire Yangtze Delta, asset management, and an important player in the Bank of Bank.” region. “”
In order to complete the sale, various conditions are required, such as approval of the National Finance Supervision Management Bureau, confirmation from the Shanghai Stock Exchange, and registration of shares transfer by the Chinese Securities Storage and Financial Folding Office of the Limited Bank of China.
If these conditions are satisfied, this transaction will be completed around mid -2025.
New China Life Insurance was established in 1996 and is based in Beijing. The main shareholder is the national company, Chuo Golden Investment and the Chinese Hoshibu Steel Group.
In October 2024 at CBA We also sold 10%of the shares Registered with Bank of Bank (VIB), Vietnam International Commercial Co., Ltd.
“CBA and Hangzhou Bank to Off -Road” were originally created and issued. Retail bunker InternationalGlobaldata brand owned.
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