Industrial & Commercial Bank of China Ltd. (1398.HK), the nation's largest lender by assets, said its third-quarter net profit grew 3.4% from a year earlier to 75 billion yuan ($11.3 billion), thanks to growth in interest income.
Net interest income rose to 133.23 billion yuan in the third quarter, compared with 117.08 billion yuan in the same period a year ago, the bank said. Net fee and commission income decreased to 30.97 billion yuan in the third quarter, compared with 32.03 billion yuan a year earlier.
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In the first nine months, ICBC's net profit was up 2.3% on year to 228 billion yuan.
The bank also reported 220.04 billion yuan in nonperforming loans at the end of September, representing 1.56% of its total outstanding loans.
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(END) Dow Jones Newswires
October 30, 2017 05:20 ET (09:20 GMT)