Chinese banks top profit earners
Updated at 6:06 am on 3 July 2012
New findings suggest China now has the three most profitable banks in the world.
In an annual survey, The Banker magazine found Chinese banks generated 29% of total global banking profits, compared with 4% five years ago.
By contrast, European banks accounted for only 6% of global profit last year.
According to the ratings, all but one of the 25 worst-performing banks came from within Europe.
The Industrial Bank of China is ranked the world's most profitable bank.
Copyright © 2012, Radio New Zealand
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