While their western counterparts struggle for survival, Chinese banks are now the first, second and third largest in the world by market capitalisation and will report record full-year 2008 profits in the coming weeks.
But the days of surging profits are probably over for now as the country's economy stalls and the government leans on the state lenders to fund the bulk of its Rmb4,000bn ($585bn) stimulus programme.
Bank of Communications, 18.6 per cent owned by HSBC, will be the first Chinese bank to report its 2008 earnings tonight, with analysts expecting full-year profit growth of 35 per cent.
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