Top China Banks Seen Posting Slower Profit Gain Amid Reform
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Industrial & Commercial Bank of China Ltd. and its three largest rivals are poised to report the slowest profit growth since the 2008 financial crisis amid surging bad loans and more competition for deposits.
ICBC, China Construction Bank Corp., Agricultural Bank of China Ltd. and Bank of China Ltd. will probably report combined net income next week of 791 billion yuan ($127 billion) for 2013, 11 percent more than the previous year, according to analyst estimates in a Bloomberg survey. The growth may slow to 7 percent this year, compared with a 17 percent increase forecast for the four largest U.S. and European banks.