The Industrial and Commercial Bank of China, the world's largest bank by market value, has posted a six percent increase in first quarter net profit.
TheIndustrialandCommercialBankofChina,theworld's
largestbankbymarketvalue,haspostedasixpercentincrease
infirstquarternetprofit.
The lender's net profit in the first three months was 35.3 billion yuan and total assets rose 12.5 percent. In its first quarter report, the bank says its income from commission charges played an important role in sustaining profit growth.
ICBC's total loans and advances to customers rose almost 14 percent to 5.2 trillion yuan during the first three months. Its non-performing loan ratio stood at 1.97 percent, down 0.32 percentage points from a year earlier.
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