ICBC

‘It may reflect a decrease in foreign currencies, especially U.S. dollars, in the balance of the banking system, so we see such arrangements by banks.’

A Spanish judge has ruled that six executives of China’s state-owned ICBC bank in Madrid should be detained pending a judicial probe into suspected money laundering and tax fraud, a court statement said Saturday.

Soaring non-performing loans at Chinese banks are a risk for the banking industry.