Bank of America Corporation (NYSE: BAC) assets could rise sharply

Bank of America Corp. assets interested bulls

In brief: Bank of America Corporation (NYSE: BAC) is one of the most promising banks - analysts say.

Bank of America Corporation (NYSE: BAC) assets for the third quarter of this year could rise to 13 billion dollars due to revaluation of the credit institution owned shares in a Chinese bank China Construction Bank Corp., Reported Wells Fargo & Co. and Royal Bank of Canada analysts.

First-largest U.S. bank assets, BofA, owns 11% China Construction Bank, which is the second largest in the country and the world after the Industrial and Commercial Bank of China Ltd. Initially, the cost of belonging to BofA shares of Chinese banks estimated at 9.2 billion dollars, since the sale of shares was prohibited until August 2011. Now, before the “unlock” stake remains less than a year, according to accounting rules, the shares should be reflected in the balance sheet at market value – 22,9 billion dollars.

Anrey Torbinski
2010-08-10 23:30, Economics.

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