CCB acclaimed as country's top bank
By Zheng Lifei (China Daily)
Updated: 2006-06-14 10:05 "It will help the outside world know what is happening in China's banking
industry and help Chinese banks receive broad recognition worldwide."
The
second-largest group of banks in the Top 100 list are 12 joint-stock commercial
banks, led by Bank of Communications, which comes in fifth place.
The
third-largest group is a cluster of city commercial banks, which, headed by Bank
of Beijing, occupy 65 places on the list.
"The picture may change and the
balance may shift in the years to come," said Timewell, referring to the current
make-up of the list.
The rating may provide clues for foreign banks over
their possible forays into the Chinese banking industry.
"It (the
listing) can serve as a valuable reference for foreign banks eyeing the Chinese
banking sector," said Gong Yingxin, a representative of Germany's DZ Bank AG
Beijing office.
"For foreign banks that are seeking potential partners
among those lesser-known city commercial banks, the listing could do them a
great service," she said.
But some are sceptical about the accuracy of
the rating report.
"The issue date for financial data used by the
magazine is not uniform, which may impair the accuracy of the rating," said an
official from Huai'an City Commercial Bank, which was ranked 98.
There is
only one foreign bank in the list BNP Paribas (China), a French bank,
which came in at number 60.
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