Chinese bank shares could see hike
25 October 2006
Share prices at Chinese banks may get a boost in the next few days following the massive and massively high profile share offering by Industrial and Commercial Bank of China (ICBC) and announcements of third quarter results by rival lenders. Friday's dual listing by ICBC in Hong Kong and Shanghai may also prove a boon for other Chinese banks, analysts told the Hong Kong Standard, by generating interest in the industry. At the same time China Merchants Bank (CMB) will announce third quarter results Friday followed by Bank of China (BOC) on Monday. CMB's profits are expected to jump 30% year-on-year while BOC is expected to show 15% growth in profits, the newspaper reported.