China's ICBC seeking to broaden non-interest income sources - report |
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Published
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Wed, 11 Apr 2007 01:15
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BEIJING (XFN-ASIA) - Industrial and Commercial Bank of China (ICBC) is seeking to strengthen its retail banking, non-interest and treasury businesses to help maintain its high earnings growth and diversity its income streams, the South China Morning Post reported, citing chairman Jiang Jianqing.'We are looking for a balanced development,' Jiang was quoted as saying by the Hong Kong newspaper.The country's largest lender saw an over 30 pct jump in profit each year since 2002 due partly to strong loan demand from China's rapidly expanding economy.But Jiang said the bank would face higher risk if lending grew too fast, and hoped to seek a better revenue mix.(1 usd = 7.73 yuan)andrew.pasek@xinhuafinance.comap/mas
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STOCKWATCH -China's ICBC turns flat in Hong Kong ahead of 2006 results 