114 days ago • Posted by William Ramstein
Chinese banks see net profit figures rise quarter to quarter
The quartet—Industrial and Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd. and Bank of China Ltd.—together account for more than one-third of the industry’s total assets. At Industrial and Commercial Bank of China, net profit grew 1.2% year-over-year to 315.9 billion yuan, the equivalent of $48.1 billion. The giant lender is the world’s biggest bank by assets, according to an April 2020 ranking by S&P Global Market Intelligence.