China's biggest commercial bank said Monday that its total foreign currency assets had exceeded US$65.6 billion by the end of 2005, with its overseas outlets reaching 100.

 

The Industrial and Commercial Bank of China (ICBC) said in a statement announced Monday that it had obtained profits of US$1.19 billion in foreign currency last year, US$719 million more than the previous year.

 

By the end of last year, the foreign currency deposits balance of ICBC were US$30.67 billion, and its loan balance stood at US$28.19 billion.

 

The ICBC statement said its foreign currency non-performing loan (NPL) ratio had whittled down to 4.43 percent by the end of last year, an internationally acknowledged safe standard.

 

Officials with the ICBC said the bank made great efforts last year to offer necessary foreign currency financial services to domestic companies in their global business strategies.

 

(Xinhua News Agency February 14, 2006)