Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY

(AXP)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

American Express : China PBOC Gives American Express the Green Light to Set Up Clearing JV

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/09/2018 | 05:01am EDT

BEIJING--American Express Co. received approval from China's central bank to set up a joint venture to offer bank-card clearing services in the country, where the business is dominated by a state-owned company.

The U.S. card network is the first foreign card network to receive permission to offer clearing services in China, after a long-time pledge by Beijing to further open up its financial markets.

The Wall Street Journal reported in April that China's central bank had informed the New York-based card issuer that it would "formally accept" its application to clear and settle domestic bank-card transactions. AmEx has applied to establish a joint venture with Chinese mobile-payment provider Lianlian Group.

The People's Bank of China said in a statement on its website Friday that the JV will be given one year to prepare and can apply to begin operations after that. The central bank also said it would allow more foreign service providers to enter China's bank-card clearing business in an orderly manner, but didn't provide a time frame.

Currently, China's bank-card clearing business is dominated by state-run Unionpay Co.

Write to Grace Zhu at grace.zhu@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERICAN EXPRESS COMPANY
03/19AMERICAN EXPRESS : Plans Live Audio Webcast of the First Quarter 2019 Earnings C..
BU
03/19AMERICAN EXPRESS COMPANY : Provisional calendar
CO
03/15AMERICAN EXPRESS : Reports 2018 Executive Compensation
DJ
03/15AMERICAN EXPRESS : Proxy
PU
03/15AMERICAN EXPRESS CO : Regulation FD Disclosure (form 8-K)
AQ
03/11PATRICK THOMAS : American Express Acquires Airport Lounge App LoungeBuddy
DJ
03/11AMERICAN EXPRESS : Declares Regular Quarterly Dividend
BU
03/11AMERICAN EXPRESS : To Acquire LoungeBuddy
PU
03/06AMERICAN EXPRESS : Global SMEs are Resilient and Plan to Keep Growing Despite Ec..
BU
03/06AMERICAN EXPRESS : Q-Card Lab Receives AMEX Accreditation for AEIPS and Expressp..
AQ
More news
Financials ($)
Sales 2019 43 668 M
EBIT 2019 12 744 M
Net income 2019 6 821 M
Debt 2019 -
Yield 2019 1,47%
P/E ratio 2019 13,44
P/E ratio 2020 12,17
Capi. / Sales 2019 2,10x
Capi. / Sales 2020 1,96x
Capitalization 91 809 M
Chart AMERICAN EXPRESS COMPANY
Duration : Period :
American Express Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMERICAN EXPRESS COMPANY
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 116 $
Spread / Average Target 5,7%
EPS Revisions
Managers
NameTitle
Stephen J. Squeri Chairman & Chief Executive Officer
Jeffrey C. Campbell Chief Financial Officer & Executive Vice President
Marc D. Gordon Chief Information Officer & Executive VP
Charlene Barshefsky Independent Director
Peter F. Chernin Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN EXPRESS COMPANY14.83%91 809
CAPITAL ONE FINANCIAL CORPORATION9.66%37 430
BAJAJ FINANCE7.24%23 648
DISCOVER FINANCIAL SERVICES19.28%23 102
SYNCHRONY FINANCIAL35.68%22 595
ORIX CORPORATION2.89%19 511