China's ICBC Buys Fortis U.S. Unit for $1
Industrial & Commercial Bank of China, the Asian country's largest lender, bought a U.S. unit of Fortis Securities for $1. ICBC is the world's largest bank by market value and is 70% owned by the Chinese government, The Wall Street Journal said . ICBC bought the unit from France's BNP Paribas ( BNPQY ). Sponsored Links adsonar_placementId=1505951;adsonar_pid=1990767;adsonar_ps=-1;adsonar_zw=242;adsonar_zh=252;adsonar_jv=''; The unit is small, with 75 existing customers and a balance sheet of $10... Continue reading China's ICBC Buys Fortis U.S. Unit for $1 China's ICBC Buys Fortis U.S. Unit for $1 originally appeared on DailyFinance on Mon, 01 Nov 2010 08:30:00. Filed Under: Company News , Investing , Market News Permalink | Tweet this! | Comments
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