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CICC acquires China Investment Securities for US$2.5 billion

  Bloomberg China International Capital Corp., the bank that has brought some of the country’s biggest state-owned firms to market, agreed to buy China Investment Securities Co. to gain a foothold in the retail-brokerage business. CICC, known as the Goldman Sachs of China, will acquire the brokerage from Central Huijin Investment Ltd. for 16.7 billion yuan ($2.5 billion), the Beijing-based ...

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AgBank fined $215mn for hiding transactions

  Bloomberg China’s third-largest lender tried to obscure the trail of dollar transactions by Russian, Chinese and Middle Eastern clients and attempted to silence a compliance officer who raised alarms about it, according to New York’s banking regulator. State-controlled Agricultural Bank of China was ordered to pay a $215 million penalty and install an independent monitor for 18 months to ...

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ING climbs most in 3 months

  Bloomberg ING Group NV, the largest Dutch lender, climbed the most in three months in Amsterdam trading after third-quarter profit beat estimates. ING jumped as much as 4.2 percent in Amsterdam trading, the biggest gain since Aug. 3, and was priced at 12.02 euros as of 9:44 a.m. Net income rose 22 percent in the quarter as investment gains ...

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