Top Chinese banks post impressive profits
The Industrial and Commercial Bank of China (ICBC), the country's largest lender, posted a profit of 138.5 billion yuan (USD 22.3 billion), registering a year-on-year increase of 12.4 percent.
Beijing: The Industrial and Commercial Bank of China (ICBC), the country's largest lender, posted a profit of 138.5 billion yuan (USD 22.3 billion), registering a year-on-year increase of 12.4 percent.
ICBC's net interest income climbed 5.8 percent from a year earlier to 215.9 billion yuan while the net fee and commission income grew 23 percent to 67.4 billion yuan in January-June, the Bank said Thursday in a statement to the Shanghai Stock Exchange.
Bank of China (BOC), the country's fourth biggest lender, reported on Thursday that its first-half net profit was up 12.9 percent to top 80 billion yuan.
BOC said its net interest income increased 10.7 percent to 137.3 billion yuan and fee and commission income rose 32.8 percent to 45.5 billion yuan, state-run Xinhua news agency reported.
ICBC's shares edged down 0.26 percent to end at 3.87 yuan while BOC closed flat at 2.63 yuan.
The country's state-owned "Big Four" banks - ICBC, BOC, China Construction Bank and Agricultural Bank of China - all reported more than 12 percent increases in their half-year net profit.
Industry-wide, combined net profits grew 13.8 percent to 753 billion yuan in the first six months this year, according to data calculated by the China Banking Regulatory Commission, the country's banking regulator.