Industrial & Commercial Bank of China 1st Half Net Profit Up 1.85% at CNY153.0 Billion

Features Dow Jones Newswires

Industrial & Commercial Bank of China said on Wednesday its first-half net profit rose 1.85% on year, thanks to higher interest income.

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Net profit for the six months ended June 30 rose to 153.0 billion yuan ($23.2 billion) from 150.22 billion yuan a year earlier, China's largest bank by assets said.

Net interest income rose 7.1% on year to 250.92 billion yuan and net fee and commission income declined 6.2% to 76.67 billion yuan.

Outstanding bad loans totaled 217.07 billion yuan at the end of June, up from 211.8 billion yuan at the end of 2016. The bank's non-performing loan ratio fell to 1.57% from 1.62% at the end of 2016.

Write to Grace Zhu at grace.zhu@wsj.com

(END) Dow Jones Newswires

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August 30, 2017 05:31 ET (09:31 GMT)