ICBC cited as best commercial bank in mainland

The Industrial and Commercial Bankof China (ICBC) was awarded the title of "best commercial bank" in the Chinese mainland by Asiamoney, a leading Asian financial magazine in Hong Kong, an ICBC spokesman said Tuesday.

The ratio of the bank's non-performing loan last year dropped 4.3 percentage points, and its profit had been increasing for three consecutive years, the spokesman cited the Asiamoney as saying.

In 2003, the bank's operational profit reached 63.5 billion yuan (7.65 billion US dollars), up 42 percent year on year, according to ICBC.

The Euromoney magazine cited the bank as the best commercial bank in the Chinese mainland for 2000.

Source: Xinhua