October 30, 2018 / 8:52 AM / a year ago

Top Chinese bank ICBC's Q3 profit rises 5.6 pct, slightly below estimates

BEIJING/SHANGHAI, Oct 30 (Reuters) - Industrial and Commercial Bank of China (ICBC) , the country’s biggest-listed lender by assets, reported on Tuesday a 5.6 percent rise in net profit for the third quarter.

State-controlled ICBC posted a net profit of 79.19 billion yuan ($11.38 billion) for the three months through September, compared to 75 billion yuan in the same period a year earlier.

That was slightly below the 6.3 percent average net profit growth estimate of three analysts surveyed by Reuters.

ICBC’s non-performing loan (NPL) ratio edged down to 1.53 percent at end-September, from 1.54 percent at end-June.

Its net interest margin stayed unchanged at 2.30 percent at end-September from three months earlier.

$1 = 6.9609 Chinese yuan renminbi Reporting by Shu Zhang in Beijing and Engen Tham in Shanghai; Editing by Muralikumar Anantharaman

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