Red faces at China's state banks

A survey of 37 foreign and local Beijing bank branches places state-owned banks at the very bottom.

Despite the frenzy of restructuring surrounding the Bank of China, China Construction Bank and Bank of Communications ahead of their forthcoming local and international IPO's, their Beijing branches failed to impress an elite team from the central bank of China.

In a just-released report, originally compiled in summer of this year, BoCom, ICBC, BoC and ABC were listed in descending order at the very bottom of the survey.

As predicted by many experts, and justifying the buy-in by HSBC, BoCom outperformed the big Four, possibly on account of its smaller size and more recent history.

The performance...

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