ICBC ranks first globally in profit and market value

16:50, March 26, 2010      

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The Industrial and Commercial Bank of China (ICBC) market value exceeded nearly 269 billion U.S. dollars on Dec. 31, 2009 making it the top bank in the global banking sector both in terms of profit and market value, according to its operating results for 2009 released on March 26, 2010.

The bank achieved an after-tax profit of 129.4 billion yuan in 2009, up 16.3 percent from 2008. Its earnings per share (EPS) increased to 0.39 yuan, up 18.2 percent from 2008. ICBC had a series of breakthroughs in the global market in 2009. For instance, it entered the markets of many countries and regions such as Canada, Thailand, Vietnam, Malaysia, and Abu Dhabi through acquisitions and applications to establish branches. In addition, it has built a harmonious cooperative relationship with the Standard Bank of South Africa.

All of its overseas branches had achieved profits in 2009, with the total pre-tax profit up 165 percent from 2008. The total assets of ICBC’s overseas branches had exceeded over 49 billion U.S. dollars by the end of 2009, up 22.89 percent from the beginning of 2009. Moreover, the non-performing assets ratio of its overseas branches maintained around 0.36 percent, up to the international advanced level.

By People's Daily Online
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