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English > Finance > Finance-Breakingnews>ICBC Says Standard Bank 2008 Investment Return 7.7%

ICBC Says Standard Bank 2008 Investment Return 7.7%

05-25 17:58 Caijing



» Industrial and Commercial Bank of China Ltd. (SH 601398; HK 1398), the country's largest lender, said it booked a 7.7 percent return on its investment in South Africa's Standard Bank Group Ltd. in 2008, considerably higher than the returns earned on its overseas bond holdings.
» ICBC, the largest single shareholder in Africa's largest bank, said it received 1.2 billion rand in cash dividends and another 589 million rand worth of stock dividends last year from its equity holding in Standard Bank.
» ICBC and Standard Bank had cooperated on 65 projects as of the end of March 2009.
From wires
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