BOC tops Big Four
23/1/2003 16:30
Bank of China topped China's Big Four state-owned banks last year in
profits, according to today's International Finance News.
Citing
statistics BOC disclosed yesterday, the bank reported a profit of 52.7 billion
yuan (US$6.4 billion) in 2002, nearly 30 percent over the previous
year.
Profits included 47.2 billion yuan (US$5.7 billion) from banking
business and 5.6 billion yuan from last year's share offering of its branch in
Hong Kong.
Thirty-one of its 32 provincial branches nationwide reported
profits in 2002, bank statistics indicated.
Industrial and Commercial
Bank of China, another Big-Four bank, follows with a profit of 44.4 billion yuan
last year, up about one-third over 2001. After loan write-offs, profits amounted
to 38 billion yuan, 10 billion yuan over a year before.
Agricultural Bank
of China posted a profit of 11.3 billion yuan in 2002, triple the previous
year.
The China Construction Bank posted a profit of 34 billion yuan, 16
percent over 2001. After more than 30 billion yuan in loan write-offs, pre-tax
profits were 4.3 billion yuan, 17 percent over 2001.
Shanghai Daily news
|
