China’s top bank ICBC first half profit up 5%
SHANGHAI: Industrial and Commercial Bank of China, the world’s largest commercial bank, reported a 5% growth in first-half profit and a stable bad loan ratio.
Profit was 160.4 billion yuan (US$23.47bil) in the six months through June, compared with 153 billion yuan in the same period a year earlier, Industrial and Commercial Bank of China said in a filing.
The first-half figure implies a net profit of 81.6 billion yuan for the second quarter, up 5.7% from 77.2 billion yuan a year ago, according to Reuters calculations.
Analysts had expected a 5.2% rise in quarterly net profit, according to four analyst estimates compiled by Reuters. — Reuters