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ICBC Forex Intermediate Business Makes Good Profits
The Industrial and Commercial Bank of China (ICBC) revealed Tuesday, December 26, that its foreign exchange intermediate businesses will realize a profit of 1.19 billion yuan this year.
Of the total profit, 380 million yuan will come from foreign-oriented warranty, 360 million yuan will come from international capital clearing and 450 million yuan from the settlement of foreign exchange trading.
A spokesman for the ICBC said that the bank seized the opportunity in the growth of China's foreign trade this year to expand foreign exchange intermediate businesses, including international capital clearing and foreign-oriented warranty, while making good profits and providing high-quality financial services for foreign trade enterprises.
The expansion has also helped develop ICBC's foreign exchange service businesses and enrich its business species, leading to a coordinated development of the bank's businesses in both local currency and foreign exchange.
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