ICBC cuts dividend payout

  • Business
  • Thursday, 31 Mar 2016

SHANGHAI: Industrial & Commercial Bank of China Ltd, the world’s largest lender by assets, cut its dividend payout ratio for 2015 as profit growth stalled with rising bad loans.

Net income amounted to 277.1 billion yuan (US$42.8bil) last year, compared with 275.8 billion yuan a year earlier, the Beijing-based bank said in a statement to the Hong Kong exchange yesterday. That exceeded the 275.2 billion yuan average of 23 analyst estimates compiled by Bloomberg. — Bloomberg

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