China's ICBC says 2008 profit up

China's ICBC, the world's biggest bank by market value, has said its net profit for 2008 rose by 35%. "In an extremely volatile business environment, the Bank continued its vigorous profit growth," ICBC said.

The ICBC noted bad loans decreased 2.2.9% from 2.74% in 2007, as it is one of China’s four main lenders. Three of China’s banks have become the largest by market value world wide. The largest, Bank of China, claims net profit fell 58% during the last quarter of 2008, but as a whole the bank rose 14% from 2007 net profit.

http://news.bbc.co.uk/2/hi/business/7963101.stm