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Dispatches: Profit growth expected at ICBC and BOC

Industrial & Commercial Bank of China and Bank of China may report profit growth of at least 15 per cent tomorrow, helping bolster confidence in the country’s banks amid tighter government scrutiny of lending. (Bloomberg)

Ping An Insurance reported a 28 per cent rise in first-half net profit, as growth in its insurance, banking and securities businesses overshadowed weak stock-trading results. (Wall Street Journal)

Construction Bank said its net profit rose 27 per cent in the first half of this year due to higher interest income. The bank, partly owned by Bank of America, said its net earnings jumped to 71bn yuan (US$10.4bn) at the end of June, according to its filing to the Shanghai Stock Exchange yesterday. (Shanghai Daily)

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