2007125 October 65438, Industrial and Commercial Bank of China Limited (hereinafter referred to as "China Industrial and Commercial Bank") and standard bank group ltd Limited (hereinafter referred to as "Standard Bank") jointly announced today that they have reached an agreement on equity trading and strategic cooperation.
According to the agreement, ICBC will pay a consideration of about 36.67 billion South African rand (about 5.46 billion US dollars) to acquire 20% of the shares of Standard Bank and become the largest shareholder of the bank. The two sides will also carry out strategic cooperation in a wide range of fields.
At present, Mih Bank has 105 1 branches, covering Africa 18 countries and major financial centers in Europe, America and Asia, covering retail banking, enterprises and investment banking, life insurance and other fields.
Jiang Jianqing, chairman of ICBC, said: "The strategic cooperation between ICBC and Mih Bank will be a strategic handshake between the largest commercial bank in China and the largest commercial bank in Africa. We hope to build a bridge connecting China with South Africa and Asia with Africa.