ICBC halts in­crease in bad loans in Q2

China Daily (USA) - - BUSINESS -

In­dus­trial & Com­mer­cial Bank of China Ltd, the world’s big­gest lender by assets, re­ported the first de­cline in its bad-loan ra­tio since 2012 in the sec­ond quar­ter, as the bank raced to dis­pose of non­per­form­ing credit. ICBC wrote off 42 bil­lion yuan ($6.3 bil­lion) of loans in the first half, 35 per­cent more than a year ear­lier, an earn­ings state­ment showed on Tues­day. Non­per­form­ing loans as a pro­por­tion of to­tal credit de­clined to 1.55 per­cent in the sec­ond quar­ter from 1.66 per­cent in the first.

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