26/07/2014 16:40:32 Free Membership Login

Malaysia CIMB: Got Philippine Central Bank OK to Buy Stake in Bank of Commerce

Date : 11/22/2012 @ 4:43PM
Source : Dow Jones News
Stock : Bank of Commerce Holdings (CA) (MM) (BOCH)
Quote : 6.31  -0.04 (-0.63%) @ 5:40AM
Bank OF Commerce share price Chart

Malaysia CIMB: Got Philippine Central Bank OK to Buy Stake in Bank of Commerce

Bank OF Commerce (NASDAQ:BOCH)
Historical Stock Chart

2 Years : From Jul 2012 to Jul 2014

Click Here for more Bank OF Commerce Charts.
   By Abhrajit Gangopadhyay 
 

KUALA LUMPUR--Malaysian lender CIMB Group Holdings Bhd. (1023.KU) has received approval from Bangko Sentral ng Pilipinas for its proposed purchase of 59.98% equity stake in Bank of Commerce, the company said in a stock exchange filing Thursday.

"Barring any unforeseen circumstances, the proposed acquisition is expected to be completed by January 2013," it said in the statement.

The proposed acquisition is part of CIMB's broader push to expand footprint in the Asean region.

In May, it had announced its stake purchase in Bank of Commerce for 881 million ringgits (US$288 million) following a decision in April to buy part of RBS's cash equities and its related investment banking operations in Asia.

Write to Abhrajit Gangopadhyay at abhrajit.gangopadhyay@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires




Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 in 140726 16:40