Industrial & Commercial Bank of China said on Wednesday its first-half net profit rose 1.85% on year, thanks to higher interest income.
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.
Continue Reading Below
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 firstname.lastname@example.org
(END) Dow Jones Newswires
August 30, 2017 05:31 ET (09:31 GMT)