Home>>Business
Last updated at: (Beijing Time) Wednesday, September 18, 2002

BOC Ranked 1st Among Emerging-market Banks

The Bank of China (BOC) announced Tuesday that Euromoney magazine has ranked it first out of 250 banks for shareholder equity in an emerging market.


PRINT DISCUSSION CHINESE SEND TO FRIEND


The Bank of China (BOC) announced Tuesday that Euromoney magazine has ranked it first out of 250 banks for shareholder equity in an emerging market.

According to the authoritative finance magazine, some emerging market banks achieved rapid growth and profits, despite global gloom, through restructuring, cost-cutting and consolidation over the year, which "set them apart from stagnant global rivals."

Of the banks with the best equity growth, Chinese, Korean, Southeast Asian and East European banks were the most outstanding. A total of 17 Chinese banks were included in the ranking.

By the end of 2001, BOC shareholder equity amounted to 26.387 billion US dollars, an annual growth of eight percent from the previous year. In the first half of 2002, the bank registered an operating profit of 21.346 billion yuan (about 2.58 billion dollars). By the end of June, the bank's rate of non-performing loans dropped 2.12 percentage points to 25.39 percent.


Questions?Comments? Click here
    Advanced






BOC Ranks Higher on Banker Magazine's Top 1000 World Banks



 


China Since 1990: Facts and Figures Tell of Rising Prosperity ( 19 Messages)

Dozens Could Have Died in Food Poisoning in Nanjing ( 13 Messages)

China Hopes to See Iraqi Issue Resolved Within UN Framework ( 29 Messages)

Survey Discloses Bad Service of Domestic Banks ( 64 Messages)

Scholar Slates Chen Shui-bian Pro-"independence" Speeches ( 10 Messages)



Copyright by People's Daily Online, all rights reserved