(ATF) – China’s “big six” state-owned banks reported combined net profit that earned them 3.1 billion yuan $437m) every day in 2019.
The staggering figures were revealed when Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications and Postal Savings Bank of China announced full-year profit of 1.1 trillion yuan.
Industrial and Commercial Bank of China, the biggest bank in the world, retained its crown with net profits of 312.2bn yuan, while Postal Savings Bank of China came bottom among the six with 60.9bn yuan.
Among the six lenders, Postal Savings Bank recorded the highest growth in net profit attributable to shareholders, with a double digit rate of 16.5%. The other five banks’ net profit growth didn’t see much difference, ranging from 4% to 5%.