Chinese Bank Becomes the World’s Largest – Reuters

From Reuters via The Globe and Mail:

In a fresh sign of China’s financial strength, a leap in the shares of Industrial & Commercial Bank of China yesterday made it the world’s biggest bank by market capitalization, overtaking U.S. giant Citigroup Inc.

ICBC’s Shanghai-listed A shares climbed 2.68 per cent to 5.75 yuan (76 cents U.S.), giving it a market capitalization of $254-billion (U.S.).

That exceeded the $251-billion capitalization of Citigroup, previously the world’s biggest bank, when its shares closed at $50.73 in New York on Friday. HSBC Holdings was in third place with $215-billion.[Full Text]

Tweets

SUPPORT CDT

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Life Without Walls

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.