ICBC's Q1 net profits up nearly 30%

2011-04-29 09:46:39

The Industrial and Commercial Bank of China (ICBC), the country's biggest commercial lender, said Thursday its net profits for the first quarter of 2011 rose 29.03 percent year-on-year to 53.84 billion yuan ($8.08 billion).

CCB's profits up 34.23% in Q1

2011-04-29 09:46:10

China Construction Bank (CCB), the nation's second largest lender by market value, said Thursday that its net profits in the first three months this year climbed 34.23 percent from a year earlier due to higher interest income and commissions.

Bank of Jiangsu to launch $1.5b IPO

2011-04-28 16:46:26

Bank of Jiangsu, a Chinese commercial bank, will soon launch an initial public offering worth up to 10 billion yuan ($1.5 billion), the 21st Century Business Herald reported on Thursday, citing an unidentified source close to the deal.

AgBank's Q1 profits up 36.43%

2011-04-28 09:41:17

Agricultural Bank of China, the nation's largest lender to farmers, said Wednesday that its net profits in the first three months this year climbed 36.43 percent from a year earlier due to higher interest income and commissions.

China should cap forex reserves at $1.3t

2011-04-25 10:31:07

China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday.

Local banks 'gain rich edge'

2011-04-21 09:57:51

China's rich prefer domestic banks for wealth management even as their overseas assets expand, according to a report released by China Merchants Bank (CMB) and Bain & Company on Wednesday.

Dagong Global sees stable outlook for Chinese banking sector

2011-04-20 10:08:03

Dagong Global, a major Chinese credit rating agency, assessed the credit rating of China's banking industry as "stable" in its seventh banking credit rating report released Tuesday.

China to designate RMB clearing bank in Singapore

2011-04-19 15:26:28

The People's Bank of China (PBOC) will designate a Chinese bank in Singapore to undertake the clearing of Renminbi trade, Singapore's Senior Minister Goh Chok Tong has said.

Societe Generale to expand in China

2011-04-19 13:11:06

French bank Societe Generale plans to strengthen its capacity in the commodities-hedging business in China in order to tap the country's growing appetite for natural resources, the bank's top executive told China Daily.

Wells Fargo to seek license for yuan-based business

2011-04-19 13:10:39

Wells Fargo & Co said it will apply for a license to conduct yuan business in China, as it sees great business opportunity in the booming yuan-denominated trade.

China still has space to tighten monetary policy further

2011-04-18 15:23:58

China still has room to further tighten monetary policy, the official China Securities Journal said in a front-page editorial on Monday.

China to examine bank loans, tighten licenses this year

2011-04-18 15:14:02

China's banking regulator will launch a thorough examination this year of loans extended over the past few years, and will tighten the issuance of banking licenses in response to global easing of liquidity, the Shanghai Securities News reported on Monday.