ICBC profits up 4.9pc in 2019

30 March, 2020 12:00 AM printer

BEIJING: The Industrial and Commercial Bank of China (ICBC), China’s biggest commercial lender, reported a net profit increase of 4.9 percent last year.

The company’s net profits attributable to shareholders stood at 312.22 billion yuan (about 44.34 billion U.S. dollars) in 2019, according to its financial report filed to the Shanghai Stock Exchange, reports Xinhua.

The growth was faster than an increase of 4.1 percent in 2018.

Business revenue rose 10.5 percent to 855.16 billion yuan, and its total assets rose 8.7 percent to 30.1 trillion yuan at the end of last year.

At the end of 2019, its non-performing loan ratio stood at 1.43 percent, down 0.09 percentage points from the end of the previous year.