Industrial and Commercial Bank of China Ltd (ICBC), the country’s largest commercial lender by assets, appropriated 111.7 billion yuan (US$16.3bil) of impairment losses on loans in the first six months, up 21.6% year-on-year (y-o-y).
BEIJING: China’s large state-owned commercial banks increased the appropriation of impairment losses on loans in the first half to improve their capacity to combat risks after the Covid-19 pandemic broke out.
Industrial and Commercial Bank of China Ltd (ICBC), the country’s largest commercial lender by assets, appropriated 111.7 billion yuan (US$16.3bil) of impairment losses on loans in the first six months, up 21.6% year-on-year (y-o-y).
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