Chinese bank profits up by almost a third
Friday 26 August 2011 - by Will Henley
Two of China's largest banks, Industrial and Commercial Bank of China and Agricultural Bank of China, have exceeded market expectations with record profits in half-year results.
The company results show that most banks saw year-on-year rises of more than 30 per cent, Shanghai Securities News reported on Friday. The report cited growth in banks' net interest incomes and intermediary businesses.
The ten banks are: China Construction Bank, Bank of China, Bank of Communications, China Minsheng Bank, Shanghai Pudong Development Bank, China Everbright Bank, Huaxia Bank, Shenzhen Development Bank, China Merchants Bank and Industrial Bank.
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