CHINESE BANKS NET PROFITS SOARED IN 07
AsiaInfo Services, March, 2008
AsiaInfo Services 03-27-2008 Chinese Banks Net Profits Soared in 07 BEIJING, Mar 27, 2008 (SinoCast via COMTEX) -- Among the listed banks which have posted their 2007 annual results, net profits of Industrial Bank (SHSE: 601166) and China Merchants Bank (SHSE: 600036) soared more than 120% year on year, while Hua Xia Bank (SHSE: 600015) and Bank of China (BOC, SEHK: 3988 and SHSE: 601988) less than 45%. China Industrial and Commercial Bank of China Ltd.
(SHSE: 601398 and SEHK: 1398), Bank of Communications (SEHK: 3328 and SHSE: 601328), China Minsheng Banking (SHSE: 600016), and Shanghai Pudong Development Bank (SHSE: 600000) all saw an around 65% increase year on year in their net profits. The wide gap among these lenders is mainly due to the strategic...
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