China Merchants Bank Denies Report it Lost $60 mln in Fortis Investment
[2009-02-16 09:10:40]
China Merchants Bank (CMB) Friday denied reports that it lost 60 million U.S. dollars on investments with financial services company Fortis.
According to a report Friday morning on Hong Kong's ET Net, handouts in the People's Congress in Guangdong Province revealed that apart from China Ping An -- which had a book loss of 22.7 billion yuan (3.34 billion U.S. dollars) in Fortis -- Guangdong Development Bank and CMB had lost 20 million and 60 million U.S. dollars, respectively, in the company.
CMB shares rose 3.13 percent to 14.81 yuan in Shanghai Friday.
Source:Xinhua
According to a report Friday morning on Hong Kong's ET Net, handouts in the People's Congress in Guangdong Province revealed that apart from China Ping An -- which had a book loss of 22.7 billion yuan (3.34 billion U.S. dollars) in Fortis -- Guangdong Development Bank and CMB had lost 20 million and 60 million U.S. dollars, respectively, in the company.
CMB shares rose 3.13 percent to 14.81 yuan in Shanghai Friday.
Source:Xinhua
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