trending Market Intelligence /marketintelligence/en/news-insights/trending/Dp2q0TZXJ0w1mJBGXAhgFA2 content esgSubNav
In This List

Standard Bank Group signs MoU with ICBC to transfer stake in ICBC Argentina

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines

Blog

Making sanctions effective: Key themes for banks


Standard Bank Group signs MoU with ICBC to transfer stake in ICBC Argentina

Industrial & Commercial Bank of China Ltd. and Standard Bank Group Ltd. signed a memorandum of understanding on Oct. 17 under which Standard Bank Group will transfer its 20% stake in Industrial & Commercial Bank of China (Argentina) SA to its parent, ICBC.

The purchase agreement, which is subject to certain conditions and regulatory approvals in China and Argentina, was announced in early August.

According to Moody's, the sale is credit positive for the bank's Argentina unit as it reinforces ICBC's commitment to its Argentine operation amid the country's macroeconomic crisis and significant market volatility.