Zhu Min, Bank of China: What China’s banks have learned from the crisis

Q: The financial crisis has led most of the world’s financial institutions to re-examine their risk management procedures. As you look to continue reforms at Bank of China, what can be learned from the problems others have faced?

A: We were to a certain degree immune from the crisis not because we had better risk management but because we had a more vanilla business model focusing on loans—

Q: But there were some losses, of around $1 billion.