Source: CCTV.com

03-26-2009 11:11

Although the world's banking system continues to suffer, the Industrial and Commercial Bank of China, the world's biggest lender by market value, has posted a 35.2 percent growth in full year net profit.

ICBC's net profit hit 111 billion yuan in 2008, the most profitable in the world. The bank's non-performing loans ratio decreased to 2.3 percent, showing its ability to withstand risk. Meanwhile, an ICBC statement says Goldman Sachs has agreed not to sell at least 80 percent of its stake in ICBC until 2010.

Although the world's banking system continues to  suffer, the Industrial and Commercial Bank of China, the world's biggest lender by market value, has posted a 35.2 percent growth in full year net profit.
Although the world's banking system continues to  suffer, 
the Industrial and Commercial Bank of China, the world's 
biggest lender by market value, has posted a 35.2 percent 
growth in full year net profit.

Goldman Sachs owns just under 5 percent of ICBC. Investors have been worried that it may sell some of its holding when lockup provisions on the stake lapse in April and October.

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Editor:Qin Yongjing