The Chinese banking sector showed strong growth last year despite the global economic downturn. Interest rate cuts, reduced reserve requirements and the massive $585 B infrastructure focused program helped Chinese banks achieve high growth. It will be interesting to see if Chinese banks are able repeat this performance in 2010.
The Top 10 Chinese Banks based on Assets held as of Dec 31,2008 are listed below:
[TABLE=226]
Source: BankScope
The top three banks are Industrial & Commercial Bank of China,China Construction Bank Corp and Agricultural Bank of China. Industrial & Commercial Bank of China (ICBC) is the top ranked bank in the country. In the world ranking of banks, it comes in at number 17. It trades on the OTC market with ticker IDCBY. Currently ICBC offers a 2.90% dividend yield.
China Construction Bank Corp (OTC:CICHY) has a $20B market cap and has a 1.415 yield. In 3rd quarter, net profit totaled 30.31 billion yuan ($4.4 billion), compared to 25.27 billion yuan a year earlier. Since the start of the year its loan book grew by 24%. Bank of America (BAC) owns 10% of CCB.
The post office run 
China Postal Savings Bank is ranked number seven in this list which is very good. In many countries such as Japan, India, etc. post offices offer savings banking facilities.
Related links:
