CCB acclaimed as country's top bank
By Zheng Lifei (China Daily)
Updated: 2006-06-14 10:05
China Construction Bank (CCB), the Hong Kong-listed lender, has been named as
the top bank in China, according to a bank rating report released
yesterday.
The report into the top 100 Chinese banks was published by The
Banker, a British magazine renowned for its annual publication that rates the
Top 1,000 global banks.
Indicators such as assets, pre-tax profits and the
capital asset ratio were used to assess and rate the banks, according to the
magazine.
The top slots in the listing are all occupied by the country's
giant State-owned banks.
Bank of China, which raised US$11.2 billion in
the world's largest initial public offering in six years earlier this month, was
ranked second.
A woman makes a phone call in front of a
billboard advertising China Construction Bank in Shanghai. The Hong
Kong-listed lender, has been named as the top bank in China, according to
a bank rating report released yesterday. [China
Daily] |
It was followed by the Industrial and
Commercial Bank of China, which is expected to go public later this
year.
Agricultural Bank of China, which is currently undergoing
restructuring and also planning a listing, came in fourth place.
This is
the first time that The Banker has published a list of top banks in China, a
fact that the magazine said demonstrates the country's growing financial
sophistication.
"We hope this listing provides a truly comprehensive
picture of China's banking industry," said Stephen Timewell, editor-in-chief of
The Banker.
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