Bank Of China (03988.HK): Plans to redeem all Overseas preferred stocks.

On January 24, Gelonghui reported that the Bank Of China (03988.HK) announced that it issued 197,865,300 overseas preferred shares on March 4, 2020, amounting to 2,820,000,000 US dollars. At the tenth Board of Directors meeting held in October 2024, the proposal regarding the exercise of the redemption rights for the second phase of overseas preferred shares was reviewed and approved, with 13 valid votes: 13 in favor, 0 against, and 0 abstentions. After the review by the Board of Directors, the bank intends to proceed with the overseas preferred share issuance upon obtaining approval from the National Financial Regulatory Administration.

Gelonghui Finance04:32 ET

Announcement on Distribution of Dividends on Offshore Preference Shares

HKEX04:30 ET · Announcements

Bank Of China (03988) plans to redeem all overseas preferred shares.

Bank Of China (03988) announced that on March 4, 2020, it issued 0.198 billion overseas preferred shares...

Zhitong Finance04:29 ET

Express News | Bank of China - Resolution to Appoint Wu Jian as Executive Vice President Passed

Reuters04:02 ET

[Brokerage Focus] Morgan Stanley states that the CSRC encourages state-owned Insurance to invest 30% of new premiums in A-shares, expecting domestic Silver to become a major investment choice.

Jinwu Financial News | Morgan Stanley has released a report stating that the China Securities Regulatory Commission encourages large state-owned insurance companies to invest 30% of new premiums in A-shares, believing that the attractive dividend yield and stable payout ratio of Bank Of China will likely become a main investment choice for state-owned insurance companies. More rational and long-term policies, along with the support of the credit cycle, should support the sustainable development of the financial market and the ideal performance of bank stocks. The bank believes that several factors will continue to drive the performance of China Mainland Banking stocks, including a potentially more constructive view of banks' Operation Indicators in the market; expanded fiscal policy support, which buffers the tail risks of bank credit quality; in the credit cycle.

Jingwu Financial News21:10 ET

1 trillion yuan in five years! Bank Of China has launched a comprehensive financial support program for AI.

Bank Of China plans to provide a total of no less than 1 trillion yuan in specialized comprehensive financial support for various entities across the entire Industry Chain of AI within the next five years, including a combined total of no less than 300 billion yuan for stocks and bonds.

wallstreetcn19:05 ET