BNP PARIBAS CONSIDERS BUYING INTO CHINESE COMMERCIAL BANK
AsiaInfo Services, September, 2005
AsiaInfo Services 09-16-2005 BNP Paribas Considers Buying into Chinese Commercial Bank NANJING, Sep 16, 2005 (SinoCast via COMTEX) -- Nanjing City Commercial Bank is weighing a plan to introduce BNP Paribas as a strategic investor, while details are still under discussion. BNP Paribas will not take high stakes in the commercial bank, as International Finance Corporation, a member of the World Bank Group, has bought a 15% stake in the bank. BNP Paribas chief executive said previously the bank is considering buying 15%-20% stake in Chinese second-tier commercial banks for USD 50 million to USD 100 million. IFC previously purchased a 15% stake in the Chinese commercial bank for USD 26 million, becoming the third largest shareholder of the Nanjing-based bank. An...
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