Bank Of China Merger Creates Hong Kong's Second Largest Bank by Mary Swire, Tax-News.com, Hong Kong 03 October 2001 The merger between the Hong Kong branch of the Bank of China (BOC) and nine other BOC units has created the second largest bank in the special administrative region (SAR). Now known as the Bank of China (Hong Kong), the bank has HK$820 billion (US$105 billion) in assets putting it in second place behind HSBC with HK$1.71 trillion. The BOC consolidation is the biggest to date in Hong Kong. During a speech at the merger ceremony the bank's chief executive, Liu Jinbao, said he was confident that the bank will help spur Hong Kong's economy. The bank has plans to launch a dual listing in Hong Kong and New York some time next year. .

IMPORTANT NOTICE: THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright THE LOWTAX NETWORK 1999 to 2009. Contact us for further information.