ICBC Reports 3.3 Percent Profit Rise in First Half
Industrial and Commercial Bank of China reported a 3.3 percent rise in first-half net profit to reach 173.682 billion yuan. Slowing credit growth continues to weigh on the broader banking sector outlook.
Insights:
Industrial and Commercial Bank of China posted a 3.3% rise in first-half net profit to 173.682 billion yuan ($25.85 billion). The results from China's largest lender arrived on Friday morning amid slowing credit growth across the sector. Investors monitor the figures as subdued loan demand weighs on bank profitability across the region.
