ICBC Reports Higher First-Half Net Profit — Update
By Kosaku Narioka
Industrial & Commercial Bank of China reported a rise in first-half net profit thanks to gains in net interest income and other sources of income.
The Chinese bank said Friday that net profit rose 2.9% from a year earlier to 169.27 billion yuan, equivalent to $25.18 billion, for the six months ended June 30.
Net interest income--the difference between interest earned on loans and that paid on deposits--increased 8.8% to 341.24 billion yuan due to lower interest expenses.
Net fee and commission income climbed 3.3% to 69.235 billion yuan. Both net trading income and net gains on financial investments also rose from the year-earlier period.
Meanwhile, credit impairment losses widened to 127.02 billion yuan from 104.01 billion yuan in the year-earlier period.
The lender's nonperforming-loan ratio was 1.29% as of end-June, down from 1.31% at the end of December.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
August 28, 2026 05:25 ET (09:25 GMT)
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