China’s three biggest lenders – Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), and Bank of China (BOC) – are the world’s most profitable banks, according to The Banker. ICBC led for the second successive year with pretax earnings of USD43.2 billion, followed by CCB, which delivered a USD34.8 billion profit, and BOC with earnings of USD26.8 billion. “Chinese banks appear to have a vast cushion of profits with which to tackle problem loans as they arise,” the magazine said. Four Chinese banks were in the top 10 in terms of tier 1 capital. The Banker also noted that Chinese lenders’ assets are just 13% of the global total, compared with their profits accounting for 30%. Their capital-to-assets ratios are significantly lower than for banks in other major emerging markets.