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
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
