August 29, 2019 / 9:03 AM / a month ago

China's ICBC, world's biggest bank, posts 4.7% rise in H1 profit

BEIJING/SHANGHAI, Aug 29 (Reuters) - Industrial and Commercial Bank of China (ICBC) , the world’s largest commercial bank, posted a 4.7% rise in first-half net profit on Thursday.

ICBC’s profit for the six months ended June 30 rose to 167.93 billion yuan ($23.68 billion) from 160.4 billion yuan in the same period a year ago, according to the lender’s statement to the Hong Kong stock exchange.

The figure implied a net profit of 85.93 billion yuan for the second quarter, up 5.2% from 81.64 billion yuan a year ago, according to Reuters calculations. ($1 = 7.0928 Chinese yuan renminbi) (Reporting by Cheng Leng in BEIJING and Engen Tham in SHANGHAI; Editing by Muralikumar Anantharaman)

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