Goldman's relationship with ICBC was similar to that of other big global financial institutions that purchased stakes in Chinese banks and insurers.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
The bank's net interest income, or revenue from borrowers minus interest paid to depositors, rose 15.2 per cent from the previous year to 417.8 billion yuan, according to the company's annual report filed to the Shanghai Stock Exchange.
It will be better for Reserve Bank of India and People's Bank of China to establish banks in each other's countries to avoid trilateral involvement.
Chinese banks -- China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) -- will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead.
The Industrial and Commercial bank of China (ICBC) is the world's largest bank in terms of market capitalisation, profitability and customer deposits.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
From India, Reliance Industries is the only one in the overall top-200 list and is followed by HDFC Bank at 209th, ONGC at 220th, Indian Oil at 288th and HDFC Ltd at 332nd place.
Amid China's economic slowdown, the country's economic challenges may increase manifold and its economy may be hit harder in the wake of the Ukraine-Russia crisis.
Senior officials of the Industrial and Commercial Bank of China (ICBC) have denied a report that three major Chinese banks would acquire a 17 per cent stake in the Standard Chartered bank, the Chinese media reported.
US investment bank Goldman Sachs and German financial firm Allianz are in talks to buy a stake of more than $1 billion in one of China's biggest state-owned commercial banks, a news report said on Monday.
Unlike any other national asset, which is typically sold to the highest bidder, the profile of the bidder is the most important criterion for a licence to bank, and even for acquiring more than 5 per cent stake, explains Tamal Bandyopadhyay.
The CSI300 of the leading Shanghai and Shenzhen A-share listings has lost almost 11 per cent this week.
Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
It is ranked 7th on the list of world's top-10 consumer finance firms
Total FDI from China in India so far is about $1.24 billion
The primary market showed some signs of life in a busy day.
All shares held by SBI in the five associate banks will stand cancelled after merger.
'India missed the software products revolution (and now is in danger of missing the platform revolution), complacent that we are the software experts of the world based on IT services prowess,' points out Rajeev Srinivasan.
Most of the companies are Chinese and surprisingly all are diversified banks.
Chinese companies show their prowess among the world's top companies.
Indian names that figure on the list, but lower down the pecking order include Tatat (101). Airtel (rank: 252), Infosys (287), Life Insurance Corporation of India (292), State Bank of India (334), HCL (390), Indian Oil (427), Reliance (445) and Larsen & Toubro (464).
BBAM seeks $100 million, return of 6 Boeing 737s.
Indian banks are the 2nd-fastest-growing ones.
Top companies in China are valued at 7.7 times the trailing 12-month earnings against a P/E ratio of 18.6 times for Nifty 50 companies.
No Indian auto brand (including Tata or Mahindra) is well-known globally.
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