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China’s top private banks quietly raked in trillions of assets in 2023

China’s top private banks raked in trillions in net new assets with up to double-digit percentage increases in new clients in 2023, despite the protracted economic woes dogging Asia’s largest economy. While good news for Chinese bankers, the country’s largest banks are still faced with the difficult reality of slumping revenues. Industrial and Commercial Bank of China (ICBC), the world’s…

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