October 25, 2019 / 8:51 AM / 18 days ago

China's ICBC, world's largest bank, posts 5.8% rise in Q3 profit

BEIJING/SHANGHAI, Oct 25 (Reuters) - Industrial and Commercial Bank of China (ICBC),, the world’s biggest-listed lender by assets, reported on Friday a 5.8% rise in third-quarter net profit.

Net income for state-controlled ICBC came in at 83.78 billion yuan ($11.85 billion) for the three months through September, compared to 79.19 billion yuan in the same period a year earlier.

The rate of profit growth was above an average forecast of 4.25% drawn from two analysts surveyed by Reuters. ($1 = 7.0699 Chinese yuan renminbi) (Reporting by Cheng Leng in Beijing and Engen Tham in Shanghai; Editing by Muralikumar Anantharaman)

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