Last year China Construction Bank’s net profit soared 10% to $11.9 billion. In the same period, Bank of America, which at the time owned some 19% of the Chinese lender, earned just $4 billion, down 73% from 2007. That’s all you need to know to understand why Bank of America in May sold a 5.8% [...]
1913 Intel
Your world at risk. How the impossible becomes the inevitable.
Why China’s Banks Are Stronger than America’s
Posted by Matt in June 3rd, 2009 | no comment
Published in China, Financial, U.S., Bank Of America, Banks, Billions Of Dollars, China Construction Bank, Chinese Banks, Chinese Money, Economy, Financial Crisis, Global Financial Crisis, Hand Over Fist, Making Money, Merrill, Money Hand, Net Profit, Stake
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