March 27, 2018 / 8:59 AM / 3 months ago

China's biggest bank ICBC posts higher Q4 profit, beats consensus

SHANGHAI/BEIJING, March 27 (Reuters) - Industrial and Commercial Bank of China Ltd (ICBC) , the country’s biggest-listed lender, reported on Tuesday a 4.7 percent rise in net profit for the fourth quarter.

State-controlled ICBC, one of the world’s largest banks by market capitalisation and assets, posted a net profit of 58.1 billion yuan ($9.3 billion) for the three months to December, versus 55.5 billion yuan in the same period a year ago.

That was above the 2.8 percent average net profit growth estimate of analysts surveyed by Thomson Reuters.

ICBC’s non-performing loan (NPL) ratio dropped slightly to 1.55 percent at end-2017, from 1.56 percent at end-September. ($1 = 6.2745 Chinese yuan) (Reporting by Engen Tham in Shanghai and Matthew Miller in Beijing; Editing by Himani Sarkar)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below