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RPT-ICBC reports 12.3 pct net income growth in H1, beating estimates
August 29, 2013 / 8:38 AM / 4 years ago

RPT-ICBC reports 12.3 pct net income growth in H1, beating estimates

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SHANGHAI, Aug 29 (Reuters) - Industrial and Commercial Bank of China , the world’s largest bank by market capitalisation, reported its slowest first-half profit growth in four years on Thursday, slightly above analyst expectations.

ICBC posted net income of 138.3 billion yuan ($22.6 billion)for the January-June period, up 12.3 percent over the same period last year. A Reuters poll of five analysts had forecast net income of 135.8 billion yuan for the first half.

The first-half figure implies net income of 69.6 billion yuan in the second quarter, up 12.5 percent from the second quarter of 2012 and faster than the 12.1 percent growth in the first quarter this year. ($1 = 6.1202 Chinese yuan) (Reporting by Gabriel Wildau; Editing by Chris Gallagher)

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