SHANGHAI: Industrial and Commercial Bank of China Ltd (ICBC), the country’s biggest lender by assets, reported on Friday that third-quarter net profit slipped 0.8%, as soured debt rose.
State-controlled ICBC, one of the world’s biggest banks by market capitalisation and assets, posted a profit of 72.1 billion yuan (RM44.7bil) for the three months through September against 72.7 billion yuan i(RM45.1bil) n the same period a year earlier.
That was below the 73.2 billion yuan (RM45.4bil) profit estimate of three analysts surveyed by Reuters.
ICBC’s non-performing loan ratio rose to 1.62% at end-September from 1.55% at end-June. - Reuters
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