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Chinese lenders made 30% of global bank profits

: Tuesday, July 01 - 2014 @ 02:51

China’s top banks have accounted for almost one-third of a record $920bn of profits made by the world’s biggest 1,000 banks in 2013, showing their rise in power since the financial crisis, Reuters has reported. China’s banks made $292bon in aggregate pre-tax profit last year, or 32% of the industry’s global earnings, according to The Banker magazine’s annual rankings of the profits and capital strength of the world’s biggest 1,000 banks. Banks in the United States made aggregate profits of $183bn, or 20% of the global tally, led by Wells Fargo’s earnings of $32bn, the report said.

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Tuesday, July 1- 2014 @ 2:51 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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