Tuesday, April 10, 2007

UPDATE 1-Top China bank ICBC hopes to boost consumer banking

(Reuters) - HONG KONG, April 10 - Industrial and Commercial Bank of China , the country's largest lender, hopes to sustain annual returns and flesh out its portfolio by enlisting part-owner Goldman Sachs in developing consumer-oriented investment products.

ICBC, which like Bank of China and Construction Bank is trying to get away from decades of lending to state firms and moving into fees-based businesses, will try to get away from lending-driven profit growth, Chairman Jiang Jianqing told reporters on Tuesday.


Read more at Reuters.com Market News

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