ICBC Reports Highest-ever Profits from Forex Bussiness
BEIJING, January 22 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC) said Tuesday it made a profit of 175 million U.S. dollars from foreign exchange business last year, the highest ever.The ICBC, one of China's four state-owned commercial banks, said the turnover of its foreign exchange business last year amounted to 254 billion U.S. dollars, a bank spokesman said.
The "impressive" performance against the backdrop of global economic slowdown was attributed to the bank's efforts to control risks and improve efficiency.
The ICBC is the largest domestic commercial bank in China, with total assets close to 4,000 billion yuan (481 billion U.S. dollars) .
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