中国工商银行成世界最有价值银行
According to a report from Bloomberg, Industrial & Commercial Bank of China (ICBC) is now the world's most valuable bank, winning its duel with Wells Fargo & Company.
彭博社的一篇报道显示，中国工商银行打败美国富国银行成为世界上最有价值的银行。
Wells Fargo is an American multinational banking and financial services holding company which is headquartered in San Francisco, California.
ICBC's market capitalization was $315 billion on Thursday, 11 percent more than Wells Fargo.
The report says Chinese banks' gains may be getting support from policies of monetary easing, lowering their funding costs and limiting bad loans.
China has cut interest rates and lenders' reserve requirements twice since November.
ICBC reported a net profit increase of 5.1 percent year on year to 276.3 billion yuan or $45.3 billion in 2014.
The bank's total assets also hit 20.6 trillion yuan, up 8.9 percent year on year.
ICBC now has become the largest bank in the world by both total assets and market capitalization.