ICBC, BOC Profits May Signal Strength in China’s Bank Industry
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Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. may report profit growth of at least 15 percent tomorrow, helping bolster confidence in the country’s banks amid tighter government scrutiny of lending.
ICBC, the world’s largest bank by market value, may post a 29 percent increase in second-quarter income, according to the average estimate among 10 analysts surveyed by Bloomberg. Bank of China is expected to post profit growth of 15 percent for the period. Both lenders are based in Beijing.