We reviewed China’s largest banks by 2008 assets on November 9th.Today lets take a look at some of the most profitable banks.

China’s 10 Most Profitable Banks based on Net Income in 2008:

[TABLE=227]

Source: BankScope

Industrial & Commercial Bank of China (ICBC) is the most profitable bank in China based on Net Income in 2008. ICBC is a state-owned AAA-rated bank. ICBC is also the world’s most profitable bank according to The Banker magazine.

As the name implies, Agricultural Bank of China mainly lends to farmers and rural businesses.

China Construction Bank, Bank of China Limited, Agricultural Bank of China
and Bank of Communications also appear in the The Banker magazine’s 25 most profitable global banks based on 2008 earnings.