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People's Daily Online>>China Business

US bank sells China Construction Bank holdings (2)

By Tian Junrong (People's Daily)

08:06, November 18, 2011

The sale will not affect the operation and development of China Construction Bank, and both sides still hold positive attitudes towards future cooperation

"Currently, the operational situation of the China Construction Bank is still good and the selling will not affect the operation and development of the bank. Although it may lead to weak fluctuations in the market in the short term, it will not affect the bank's long-term investment value," Zhang said.

Zhang also said that the bank published its performance report for the third quarter of 2011 a short time ago. At the end of the third quarter, the bank's property scale was 11.8 trillion yuan, its capital adequacy ratio was nearly 13 percent, the core capital adequacy ratio was nearly 11 percent, net profit was more than 139 billion yuan, annual average return on equity was 24.8 percent and the annual average return on assets was 1.6 percent.
Given that China Construction Bank’s market value and profitability both ranked second among all banks of the world, the bank is still highly recognized in the international capital market, Zhang said.

【1】 【2】

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Canada at 2011-11-1970.36.49.*
Does the Bank of America own Merrill Lynch? I wonder if the BOA is financial trouble? Not sure but think U.S. brokerage accounts are only insured for $100,000.00 US dollars.

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