October 30, 2017 / 9:05 AM / 20 days ago

China's top bank ICBC Q3 profit rises 3.3 pct, above estimates

BEIJING, Oct 30 (Reuters) - Industrial and Commercial Bank of China (ICBC), the country’s biggest-listed lender by assets, reported on Monday a 3.3 percent rise in net profit for the third quarter.

State-controlled ICBC, one of the world’s top banks by market capitalisation and assets, posted net profit of 75 billion yuan ($11.28 billion) for the three months through September against 72.6 billion yuan in the same period a year earlier.

That was slightly above the 2.5 percent average net profit growth estimate of three analysts surveyed by Reuters.

ICBC’s non-performing loan (NPL) ratio rose to 1.56 percent at end-September, down from 1.57 percent at end-June.

ICBC’s net interest margin rose to 2.17 percent from 2.16 percent at the end of June. ($1 = 6.6466 Chinese yuan) (Reporting by Shu Zhang, Matthew Miller and Engen Tham; Editing by Jacqueline Wong)

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