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ICBC, BOC H1 profit gains

08-27-2010 14:02 BJT

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Two of China's "big four" state banks have released their first-half reports, and both saw profit gains.

Industrial and Commercial Bank of China, the world's largest commercial lender by market value, reported on Thursday its first half profits rose more than 27 percent year on year. Its net profits totaled 85 billion yuan.

ICBC also improved its asset quality, with its non-performing loan ratio declining 0.28 percentage points from the end of last year. The non-performing ratio of credit to property developers and mortgagors both stood at relatively low levels.

The country's third-largest lender by market value, Bank of China, says its first-half profit gained 27 percent. Its net income climbed to 52 billion yuan. The two lenders both say their profits were boosted by rising demand for loans and financial services.

Editor:Xiong Qu |Source: CNTV.CN

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