Friday, September 9, 2011

ICBC Registers Over RMB 100 Billion After-Tax Profit in H1 2011

Bad loan ratio declines under 1%

Industrial and Commercial Bank of China Limited (Stock Code SH: 601398, HK: 1398) announced its 2011 interim results on August 25. In accordance with the International Financial Reporting Standards, ICBC's after-tax profit in the first half of 2011 was RMB 109.6 billion, up 29% year-on-year. Earnings per share and net assets per share were RMB 0.31 and RMB 2.46, up RMB 0.06 and RMB 0.35 respectively when compared to the same period last year. Annualized return on average total assets and return on weighted average equity rose respectively 0.18 percentage points and 1.22 percentage points from a year earlier, to 1.55% and 25.12%.

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