Related News
CCB eyes Rabobank's Indonesian business
Source: Bloomberg News |
February 22, 2013, Friday
|
Print Edition
Print Edition
CHINA Construction Bank offered about US$300 million for Rabobank Groep's Indonesian unit, a person with direct knowledge of the matter said yesterday.
The Beijing-based bank has submitted a non-binding offer in the first round of bidding for the assets, said the person, who asked not to be named because the information is private.
Sumitomo Mitsui Financial Group Inc, Japan's second-biggest bank by market value, has also bid for the business, another source said, declining to disclose details.
CCB, China's second-largest lender, is seeking to expand abroad after profit growth slowed in 2012 amid the country's weakest economic expansion in three years. The bank made 99 percent of its revenue from China in 2011, according to data compiled by Bloomberg News.
Tokyo-based Sumitomo Mitsui is also looking abroad as shrinking margins and weak loan demand hamper lending profit at home.
Rabobank, which sold its asset-management unit to Japan's Orix Corp this week for 1.94 billion euros (US$2.6 billion), is shedding units to strengthen its finances.
Netherlands-based Rabobank is studying options for its Indonesian operation, Chief Financial Officer Bert Bruggink has said.
The Beijing-based bank has submitted a non-binding offer in the first round of bidding for the assets, said the person, who asked not to be named because the information is private.
Sumitomo Mitsui Financial Group Inc, Japan's second-biggest bank by market value, has also bid for the business, another source said, declining to disclose details.
CCB, China's second-largest lender, is seeking to expand abroad after profit growth slowed in 2012 amid the country's weakest economic expansion in three years. The bank made 99 percent of its revenue from China in 2011, according to data compiled by Bloomberg News.
Tokyo-based Sumitomo Mitsui is also looking abroad as shrinking margins and weak loan demand hamper lending profit at home.
Rabobank, which sold its asset-management unit to Japan's Orix Corp this week for 1.94 billion euros (US$2.6 billion), is shedding units to strengthen its finances.
Netherlands-based Rabobank is studying options for its Indonesian operation, Chief Financial Officer Bert Bruggink has said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
