SHANGHAI: Bank of China Ltd, the country's largest foreign exchange lender, denied a report that it may have a 3.85 billion yuan (US$508mil) loss this year from investments in US subprime loans.
“The report is groundless and irresponsible,'' Wang Zhaowen, a spokesman for Beijing-based Bank of China, said in an e-mailed statement yesterday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!