Thu, Jan. 7, 8:18 AM
- BOC Aviation, Bank of China's (OTCPK:BACHY) aircraft-leasing arm, has ordered 30 A320s (OTCPK:EADSY) to expand its fleet and meet customer demand.
- "This order underscores our continued confidence in the reliability and operational efficiency of the A320 family aircraft," BOC Aviation CEO Robert Martin said in a statement.
- The single-aisle planes are valued at $3.1B at list prices.
Nov. 26, 2015, 4:34 AM
- China's "national team" owns at least 6% of the mainland stock market following the summer rescue to prop up prices, putting even more of the $4.2T bourses into state hands, FT reports.
- Government rescue funds were corralled into buying shares when the equity markets went into meltdown over summer. The intervention seems to have succeeded so far - the Shanghai Composite has since recovered by 28% from its last low point in late August.
- Top ten purchases in Q3 by China Securities Finance Corp: Bank of China (OTCPK:BACHY), Industrial and Commercial Bank of China (OTCPK:IDCBY), Agricultural Bank of China (OTCPK:ACGBY), China Construction Bank (OTCPK:CICHY), Bank of Communications (OTCPK:BCMXY), China Petroleum & Chemical Corp (NYSE:SNP), China Everbright Bank (OTC:CBVHY), China Minsheng Banking (OTCPK:CMAKY), BOE Technology Group and PetroChina (NYSE:PTR).
- Shanghai -0.3% to 3,636.
Aug. 25, 2014, 8:02 AM
- Boeing (NYSE:BA) has received an order for 82 jets from BOC Aviation, the leasing subsidiary of Bank of China (OTCPK:BACHY), valued at $8.8B in list prices.
- BOC Aviation ordered 50 737 Max 8, 30 Next Generation 737-800 and two 777 widebody aircraft. The planes will be delivered between 2016 and 2021.
- Asian aircraft leasing companies are boosting their fleets due to the surge in travel demand across the continent.
Mar. 31, 2014, 12:47 PM
- Industrial & Commercial Bank of China, China Construction Bank (CICHY, CICHF), Agricultural Bank of China (ACGBY, ACGBF), Bank of China (BACHF, BACHY), and Bank of Communications (BKFCF, BCMXY) together shed nearly ¥64B ($10.5B) of bad loans last year, two and one-half times the amount in 2012, and the pace isn't expected to slow in 2014. A number of high-profile defaults in recent weeks remind of the slowing economy and deteriorating financial health in a number of key sectors.
- Still, four of the five posted double-digit profit growth last year (the other grew profit at 7%), giving the lenders room to take write-offs.
- "Industries with overcapacity problems were and will be the main sources of nonperforming loans," says S&P analyst Liao Qiang. "These industries including the steel sector will witness a large increase in bad loans in the next two to three years."
- The Global X China Financials ETF (CHIX) is off 9% YTD.
Jul. 2, 2012, 4:15 AM
Chinese banks accounted for almost a third of global bank profit last year, up from just 4% in 2007. Much of the gains came at the expense of European peers who bled marketshare. Leading the profit tables: ICBC with pretax earnings of $43.2B, China Construction Bank with $34.8B, and Bank of China with $26.8B. JPMorgan (JPM) and HSBC (HBC) took fourth and fifth place.| Jul. 2, 2012, 4:15 AM | 1 Comment
Mar. 8, 2012, 2:52 PM
Bank of China (BACHF.PK) is among Asian lenders filling the gap left by retreating European banks, sharply increasing property loans in the U.S., especially in NYC. "China ... has capital that needs to be put to work," says an analyst, exactly the opposite of the issue facing many EU banks.| Mar. 8, 2012, 2:52 PM
Jun. 20, 2011, 8:42 AMCredit Suisse downgrades China's banks, swinging from overweight to underweight without stopping at neutral. Importantly, the bank tags what could be the next sovereign risk issue, as massive local off-balance sheet financing begins to move onto Beijing's books. CHIX -4.3% YTD. | Jun. 20, 2011, 8:42 AM
Apr. 13, 2011, 10:16 AMWith credit expansion expected to continue to surge, China's banks will need to raise $131B of fresh capital over the next 5 years, according to a regulatory source. Bloomberg calculates this amounts to about 13% of the total stock market capitalization of China's banking system. CHIX +2.4%. | Apr. 13, 2011, 10:16 AM
Mar. 8, 2011, 10:34 AM
A legacy of torrid credit growth and surging property prices puts China at a 60% risk of a bank crisis by 2013, says Fitch. According to Richard Fox, a bursting real estate bubble will put "holes in bank balance sheets." The Hang Seng Finance Index brushes off concern, +1.5% last night.| Mar. 8, 2011, 10:34 AM | 2 Comments
Mar. 4, 2011, 7:31 AMFalling short of forecasts for the 2nd consecutive month, Chinese banks make just $91B in new loans in February. It either suggests that numerous steps to slow credit growth are taking effect, or that banks have become more adept at obfuscating the true amount of lending. CHIX -0.9% YTD. | Mar. 4, 2011, 7:31 AM
Jan. 11, 2011, 7:47 AMChina's currency reserves increase by a record $199B last quarter as surging hot money inflows more than make up for a shrinking trade surplus. Rate increases are drawing in speculative capital, creating more liquidity, necessitating higher rates, drawing in speculative capital ... | Jan. 11, 2011, 7:47 AM
Jan. 7, 2011, 7:40 AMAgricultural Bank of China and China Minsheng Bank file to raise $11B in stock and debt. It was only last year AgBank raised $22B in an IPO. With new capital standards on the way and concerns about bad loans mounting, expect more banks to come to market. | Jan. 7, 2011, 7:40 AM