Key facts
- ICBC reported a 9.97% rise in third-quarter net profit.
- Net profit was 111.96 billion yuan for the three months ended September 30.
- Net interest margin was 1.29% at the end of September.
- Non-performing loan ratio was 1.29% at the end of September.
Industrial and Commercial Bank of China, the world's largest lender by assets, reported on Friday a 9.97% rise in its third-quarter net profit to 111.96 billion yuan ($16.82 billion). The results suggest the lender is recovering from years of squeezed profitability amid a protracted property crisis, although weak credit demand and a slowing economy continued to weigh on performance. The bank's net interest margin remained flat at 1.29% at the end of September compared to the end of June, and its non-performing loan ratio was also steady at 1.29%.