As a young man during China’s Cultural Revolution, Jiang Jianqing was sent to the countryside to work as a farmer and a coal miner. This week, he arrives at the top of a Swiss mountain as chairman of the world’s most- profitable bank and representative of the most-populous nation.
Industrial & Commercial Bank of China Ltd. Chairman Jiang Jianqing said he expects China to maintain tight monetary policy even though there’s room to adjust the provision of credit to “certain sectors.”
Industrial & Commercial Bank of China Ltd. led the nation’s biggest banks in posting faster- than-estimated second-quarter profit growth by containing bad loans and selling more wealth management products.
Industrial & Commercial Bank of China Ltd. said it will buy Turkey’s Tekstil Bankasi AS as the biggest Chinese lender seeks to counter a credit slowdown at home that led to the weakest profit growth in almost five years.
Industrial & Commercial Bank of China Ltd. Chairman Jiang Jianqing said the lender won’t compensate investors for losses tied to a troubled trust product distributed by the bank, CNBC reported on its website.