Standard Bank Plans Argentine Unit Sale
Standard Bank Group is in discussions to sell its Argentine operation.
Standard Bank Group is in discussions to sell its Argentine operation, Reuters reports, citing El Cronista. The African lender is seeking to sell the unit to Industrial and Commercial Bank of China (ICBC). The Johannesburg-based bank acquired 76% of BankBoston from the Bank of America in 2006. Beijing-based ICBC already owns around 20% stake in Standard Bank Group.
Click here for the story from Reuters.