Net income for state-controlled ICBC came in at 83.78 billion yuan (£9.23 billion) for the three months through September, up 5.8% from 79.19 billion yuan in the same period a year earlier.
Industrial and Commercial Bank of China (ICBC), the world’s biggest-listed lender by assets, posted on Friday the fastest rise in third-quarter net profit for five years as growth in soured loans slowed.
Net income for state-controlled ICBC came in at 83.78 billion yuan (£9.23 billion) for the three months through September, up 5.8% from 79.19 billion yuan in the same period a year earlier.
The rate of profit growth was above the average forecast of 4.25% drawn from two analysts surveyed by Reuters.
ICBC’s non-performing loan ratio edged down to 1.44% at end-September from 1.48% at end-June.
Its net interest margin narrowed slightly to 2.26% at end-September from 2.29% three months earlier.
Other major Chinese banks, including Bank of China and China Construction Bank will report results next week.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Severity: Warning
Message: count(): Parameter must be an array or an object that implements Countable
Filename: amp/news_details_amp.php
Line Number: 252
Backtrace:
File: /home/smartmarketnews/public_html/application/views/amp/news_details_amp.php
Line: 252
Function: _error_handler
File: /home/smartmarketnews/public_html/application/controllers/Amp_controller.php
Line: 41
Function: view
File: /home/smartmarketnews/public_html/index.php
Line: 315
Function: require_once
Smarter Decisions with Smart News
Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.
media@smartmarketnews.com | sales@smartmarketnews.com
Contact Us