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Bank of America plans to return $45 billion to the government

22 May 2009

On the informal data, one of the largest banks in the USA America Corp. (BofA) plans to return $45 billion of state help to the American bank till the end of 2009. BofA expects to receive money from private investors and sale of not profile actives. In particular, the bank is intended to get more than $35 billion already in the end of September, 2009.
BofA expects to gain nearby $6-7 billion from sale of such actives, as private bank First Republic, financial company Financial Data Services and insurance company Balboa.
At the same time due to the sale of a part of a share in China Construction Bank Corp. the bank has received nearby $7,3 billion.
BofA also plans to carry out converting of preference shares for the sum of $9 billion and to get $2 billion by means of the postponed taxes.
It is worth of mentioning, that on May, 20th, 2009, BofA has finished the placing of new shares, started on May, 8th, 2009. After promulgation of the governmental stresses-tests the bank has sold $1,25 billion of ordinary shares to investors and thus it has received about $10,77 billion.


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