C4C.F - Bank of Communications Co., Ltd.

Frankfurt - Frankfurt Delayed Price. Currency in EUR
0.6260
+0.0340 (+5.74%)
As of 2:03PM CEST. Market open.
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Previous Close0.5920
Open0.5990
Bid0.5980 x N/A
Ask0.6270 x N/A
Day's Range0.5990 - 0.6260
52 Week Range0.5810 - 0.7680
Volume5,000
Avg. Volume210
Market Cap51.812B
Beta (3Y Monthly)0.42
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.04 (6.66%)
Ex-Dividend Date2019-06-25
1y Target EstN/A
  • China Merchants Bank, Bank of Communications and Shanghai Pudong Development Bank dismiss US's North Korea sanctions breach charges
    South China Morning Post

    China Merchants Bank, Bank of Communications and Shanghai Pudong Development Bank dismiss US's North Korea sanctions breach charges

    Mainland Chinese commercial banks China Merchants Bank, Bank of Communications (Bocom) and Shanghai Pudong Development Bank (SPDB) on Tuesday dismissed allegations they were in possible breach of US sanctions against North Korea.In statements issued after their stocks were hammered by a Washington Post report alleging misconduct, the lenders said they have been complying with international and Chinese laws, and were not involved in any investigations related to a possible breach of the sanctions.China's ministry of foreign affairs voiced its opposition to possible sanctions against the banks. It said Beijing was committed to upholding United Nations Security Council resolutions against North Korea, and that it not only required individuals and financial institutions to follow all sanction resolutions passed by the UN, but had also urged overseas branches of Chinese financial companies to comply with local rules."Meanwhile, we are also opposed to the so-called long arm enforcement imposed by the US authorities on Chinese companies," Geng Shuang, a ministry spokesman, said at a press briefing in Beijing.The Washington Post reported on Monday three large Chinese banks could lose access to the US financial system after a judge found them in contempt for refusing to comply with subpoenas in an investigation into breaches of North Korean sanctions.Shares in China Merchants Bank dropped by more than 8.2 per cent in Shanghai, but recovered after the bank's statement to close 4.8 per cent lower. Photo: Reuters alt=Shares in China Merchants Bank dropped by more than 8.2 per cent in Shanghai, but recovered after the bank's statement to close 4.8 per cent lower. Photo: ReutersThe banks were not identified, but details in the court ruling align with a 2017 civil forfeiture action against Bocom, China Merchants Bank and SPDB, according to the report.The three banks were identified by US authorities in official documents as early as 2016, according to earlier media reports, allegedly for handling bank accounts held by front companies used to enable North Korea to buy commodities, bypassing US sanctions.Other state-owned banks, including Agricultural Bank of China, China Construction Bank and the Industrial and Commercial Bank of China, were also named in earlier investigations by the US Department of Justice.Bocom stock fell by 3 per cent in Shanghai and 3.7 per cent in Hong Kong on Tuesday, following The Washington Post report. Photo: Reuters alt=Bocom stock fell by 3 per cent in Shanghai and 3.7 per cent in Hong Kong on Tuesday, following The Washington Post report. Photo: Reuters"China Merchants Bank has noticed The Washington Post report. It involves information about a US court asking for client information from a Chinese bank," the lender said in its statement.The US authorities should follow the agreement signed by China and the United States on mutual legal help in criminal matters for cross-border evidence collection, said the statement, quoted in mainland Chinese media The Paper.Bocom and SPDB issued statements with similar wording in the afternoon, also cited by The Paper.SPDB specifically acknowledged it had received a requirement from a US legal department to provide information about a client, in addition to other data and information. However, any individual or organisation shall not disclose related information to overseas parties without permission, it said.SPDB was also identified by The Washington Post as "at risk of losing access to US dollars", without any elaboration."I view it as likely to be a politically motivated attack by Trump administration officials looking for excuses to contain and curb China's growth ... It is doubtful that a large bank such as China Merchants Bank would break sanctions, as it has too much to lose," he said.China Merchants Bank dropped by more than 8.2 per cent on Tuesday in Shanghai, but recovered after the bank's statement to close at 36.1 yuan, 4.8 per cent lower. Its H shares dropped by 7.9 per cent to close at HK$38.4 in Hong Kong. Bocom fell by 3 per cent to close at 6.1 yuan in Shanghai. Its H shares eased 3.7 per cent to close at HK$5.95. SPDB fell 3.1 per cent to close at 11.7 yuan in Shanghai.The US excluded China's Bank of Dandong from its financial system in November, 2017, for reportedly helping North Korea evade financial sanctions to launder funds.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

  • Reuters

    UPDATE 2-Chinese bank may face U.S. action in N. Korean sanctions probe - Washington Post

    A U.S. judge has found three large Chinese banks in contempt for refusing to comply with subpoenas in a probe into North Korean sanctions violations, the Washington Post reported https://wapo.st/2X6ptOL, adding one of them could lose access to the U.S. financial system. The banks were not identified by the judge, but details in the ruling align with a 2017 civil forfeiture action against Bank of Communications, China Merchants Bank and Shanghai Pudong Development Bank, the newspaper reported.

  • Reuters

    China Big Five banks post modest profit growth amid loan push

    BEIJING/SINGAPORE (Reuters) - China's five biggest state-owned banks posted a modest growth in quarterly profit as policymakers pushed them to make more loans, but the results still missed expectations amid the lingering impact of an economic slowdown. Net profits at the country's so-called Big Five banks, led by Industrial and Commercial Bank of China Ltd (ICBC), grew by more than 4 percent in the January-March quarter from a year earlier. The gain comes on the heels of disappointing 2018 fourth quarter when four of the five turned in their weakest profit growth in more than two years as business activity slowed and they sharply increased provisions for bad loans.

  • Four’s the Magic Number for China’s Banks
    Bloomberg

    Four’s the Magic Number for China’s Banks

    On Monday, Industrial & Commercial Bank of China Ltd., Bank of China Ltd., China Construction Bank Corp. and Bank of Communications Co. posted higher net income. Including Agricultural Bank of China Ltd., which reported last week, rises at the big five clustered in a range from 4.1 percent to 4.9 percent. At the same time as profit climbed, nonperforming loans as a ratio of total lending dropped – though overall levels of bad debt increased.

  • Reuters

    China's big banks post modest first-quarter profit growth

    BEIJING/SINGAPORE(Reuters) - China's five largest state-owned banks posted modest first-quarter profit growth, though slightly below expectations, as policymakers pushed lenders to make more loans to support the slowing economy. Net profits at the country's so-called Big Five banks, led by Industrial and Commercial Bank of China Ltd (ICBC), grew by more than 4 percent in the January-March quarter from a year earlier. The gain comes on the heels of disappointing 2018 fourth-quarter results that saw four of the five lenders posting their weakest quarterly profit growth in more than two years as business activity slowed and they sharply increased provisions for bad loans.

  • Reuters

    China's big banks post modest Q1 profit growth

    BEIJING/SINGAPORE, April 30(Reuters) - China's five largest state-owned banks posted modest first-quarter profit growth, though slightly below expectations, as policymakers pushed lenders to make more loans to support the slowing economy. Net profits at the country's so-called Big Five banks, led by Industrial and Commercial Bank of China Ltd (ICBC) , grew by more than 4 percent in the January-March quarter from a year earlier. The gain comes on the heels of disappointing 2018 fourth-quarter results that saw four of the five lenders posting their weakest quarterly profit growth in more than two years as business activity slowed and they sharply increased provisions for bad loans.

  • China's BoCom first-quarter profit up 4.9 percent, bad loan ratio dips
    Reuters

    China's BoCom first-quarter profit up 4.9 percent, bad loan ratio dips

    BEIJING/SINGAPORE (Reuters) - China's Bank of Communications Co Ltd (BoCom) posted a 4.9 percent rise in its first-quarter net profit as bad loan ratio and interest margins improved. Profit at China's ...

  • Reuters

    DIARY-Hong Kong corporate earnings week ahead

    April 26 (Reuters) - Diary of Hong Kong (.HSI) corporate earnings for the week ahead. HONG KONG EARNINGS Start Date Start Time RIC Company Event Name (GMT) 29-Apr-2019 AMC 601939.SS China Construction ...

  • Reuters

    BRIEF-Bank Of Communications Says Chairman Peng Chun Resigns Due To Change In Job Role

    April 9 (Reuters) - Bank Of Communications Co Ltd : * SAYS CHAIRMAN PENG CHUN RESIGNS DUE TO CHANGE IN JOB ROLE, EFFECTIVE FROM APRIL 9 Source text in Chinese: https://bit.ly/2CZbePJ Further company coverage: ...

  • Reuters

    China's Bank of Communications' Q4 profit up 3 pct, beats estimates

    BEIJING/HONG KONG, March 29 (Reuters) - Bank of Communications Co Ltd (BoCom) , China's fifth-largest commercial bank by assets, reported a 3 percent rise in fourth-quarter net profit helped by improving ...

  • Reuters

    BRIEF-Jilin Electric Power To Bring In Two Investors To Boost Unit's Capital

    Dec 10 (Reuters) - Jilin Electric Power Co Ltd: * SAYS IT PLANS TO BRING IN TWO INVESTORS, BOC FINANCIAL ASSET INVESTMENT AND BOCOM FINANCIAL ASSET INVESTMENT, TO BOOST UNIT'S CAPITAL BY 876 MILLION YUAN ...

  • Reuters

    BRIEF-Shanghai Exchange Filing Shows Block Trade Of Bank Of Communications' A-Shares Involving 130 Mln Yuan

    Sept 18 (Reuters) - Bank Of Communications Co Ltd : * SHANGHAI STOCK EXCHANGE FILING SHOWS BLOCK TRADE OF BANK OF COMMUNICATIONS' 26.0 MILLION A-SHARES INVOLVING 130.0 MILLION YUAN ($18.93 million)ON SEPT ...