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March 30, 2007
Another Record High
A Chinese
bank overtakes Bank of America.
bank overtakes Bank of America.
With the record closing, Industrial Commerce Bank of China(ICBC) is now the world's second largest bank by market capitalization($232 Billion), surpassing Bank of America($227 Billion) and trailing only Citigroup($250 billion). But, on an earning basis, ICBC's 2006 profit is only 1/3 of that of BoA. I guess if the RMB appreciate 300 percent this year, everything would be just peachy.
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Posted on March 30, 2007 12:41 AM by bank o650.
Filed in Money in the Bank under bank of america.
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