China's ICBC emerges as world's most profitable bank

08/21/2008 | Bloomberg · People's Daily (China)

A resilient economy and the ability to sidestep the credit crisis helped Industrial and Commercial Bank of China become the most profitable bank in the world. ICBC's first-half earnings reached a record 64.5 billion yuan. "This shows the rise of economic power in China," said Yuk Kei Lee, a Core Pacific-Yamaichi International analyst. "ICBC's earnings power has already overtaken other global giants, but we need time to see if this achievement can be sustained."

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Bloomberg · People's Daily (China)

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