Industrial and Commercial Bank of China, the mainland's largest lender, aims to strengthen its retail banking, non-interest and treasury businesses to help maintain its high earnings growth, according to chairman Jiang Jianqing.
The bank recorded more than 30 per cent profit growth in each of the past four years, thanks partly to strong loan demand amid the mainland's soaring economy.
However, Mr Jiang said the bank would face higher risk if lending grew too fast, and hoped to seek a better revenue mix.
'We are looking for a balanced development,' Mr Jiang said yesterday.
ICBC saw loan growth of 10.4 per cent last year, slower than the average growth of 15 per cent in the industry. Mr Jiang said it would like to keep the pace at about 10 per cent.
Mr Jiang said the lender's loans generated a yield of 5.42 per cent in the second half of last year, up from 5.11 per cent in the first half, which would help widen its net interest margin.
For the non-interest business, Mr Jiang said ICBC planned to strengthen its retail banking, particularly its wealth management operation, which had income growth of 70 per cent last year.
