April 28, 2020 / 10:04 AM / a month ago

Chinese bank ICBC posts 3% profit rise despite pandemic

BEIJING/SHANGHAI, April 28 (Reuters) - Industrial and Commercial Bank of China Ltd (ICBC), , the world’s biggest commercial lender by assets, said net profit grew 3.04% in the first quarter despite the impact of the coronavirus pandemic.

Profit rose to 84.49 billion yuan ($11.94 billion) in the three months through March from 82.01 billion a year earlier, the bank said in a filing on Tuesday.

$1 = 7.0751 Chinese yuan renminbi Reporting by Zhang Yan, Cheng Leng in Beijing, Engen Tham in Shanghai; editing by Jason Neely

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