China´s largest bank profit, $42.42 billion in 2013

Friday, March 28, 2014

Industrial and Commercial Bank of China says its 2013´s net profit rose by 10.2 per cent reaching $42.42 billion.

Industrial and Commercial Bank of China says its 2013´s net profit rose by 10.2 per cent reaching $42.42 billion.

BEIJING - China's largest bank by assets, Industrial and Commercial Bank of China (ICBC), said its 2013´s net profit rose by 10.2 per cent reaching 263 billion yuan ($42.42 billion) on Thursday.

The bank's profits from last year were led by increases on the net interest margin - the difference between what it charges on customer´s loans and what it pays on customer´s deposits.

According to a report in official Xinhua News Agency, the bank also reduced its credits to high risks sectors in China in 2013.

The bank´s assets overseas reached $209.2 billion at the end of 2013, surging 28.5 percent year on year.

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