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ICBC Mideast unit posts 69% jump in profit
- United Arab Emirates: Sunday, February 24 - 2013 at 04:30
The world's biggest lending bank, the Industrial and Commercial Bank of China, has announced its Middle East branch has seen surging profits and asset growth in 2012, Reuters has reported. The bank's Dubai-based Middle East unit said pre-tax profit surged 69% year-on-year to $54m last year, while operating income jumped 47% to $72m. Total assets at end of 2012 were $3.96bn, a rise of 29% over the same figure at the end of 2011, it said.
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