Sunday October 25, 2020

Record profits recorded by top two Chinese banks

China’s two biggest banks posted record first-half profits this week, as the country’s frantic economic growth drove strong lending and a surge in take-up of commission-based banking services.

25th August, 2007

China’s two biggest banks posted record first-half profits this week, as the country’s frantic economic growth drove strong lending and a surge in take-up of commission-based banking services.

The Industrial and Commercial Bank of China (ICBC), the country’s largest lender, announced that its profits had risen 61.4 per cent to $5.4 billion in the first six months of 2007, while profits at fellow titan Bank of China increased by 51.7 per...

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