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ICBC is world's most profitable bank

By Cai Muyuan (chinadaily.com.cn)
Updated: 2011-07-04 14:10

Three banks in China have jumped into the top ten ranking of the world's best 1,000 banks, according to the UK magazine Banker.

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Industrial and Commercial Bank of China (ICBC) ranked sixth, followed by China Construction Bank Corp in eighth place and Bank of China at nine, Securities Daily reported Monday.

The top four banks are Bank of America, JP Morgan Chase & Co, HSBC Holdings and Citigroup, according to the news report.

ICBC became the world's most profitable bank with a net profit of $32.5 billion last year.