ICBC profits up 5.57 pct in Q3

0 Comment(s)Print E-mail Xinhua, October 30, 2018
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The Industrial and Commercial Bank of China (ICBC), China's biggest commercial lender, on Tuesday reported a net profit increase of 5.57 percent in the third quarter of the year.

Following international financial reporting standards, the company's net profits attributable to shareholders stood at 79.19 billion yuan (about 11.4 billion U.S. dollars) in Q3, according to the report filed with the Hong Kong stock exchange.

Total profits in the first nine months rose 5.1 percent to 239.63 billion yuan, the report said.

Its business revenue rose 5.34 percent in Q3 to 178.58 billion yuan, and total assets rose 8.09 percent from the end of last year to 28.2 trillion yuan at the end of September.

At the end of September, the non-performing loan ratio was 1.53 percent, down 0.02 percentage points from the end of last year.

ICBC shares on the Shanghai Stock Exchange rose 0.9 percent on Tuesday, while its shares on the Hong Kong bourse remained flat from Monday's close.

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