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Chinese Bank Enjoys Better Asset Quality
The Industrial and Commercial Bank of China (ICBC) recovered non-performing loans of 100.22 billion yuan (about 12.2 billion U.S. dollars) in the first nine months, lowering the ratio of its non-performing loans to the total loan amount by 2.8 percentage points.
A spokesman for the ICBC said that by the end of September, the bank had realized closed-end profits of 22.6 billion yuan, increasing 15.9 billion yuan over the same period last year.
Statistics show that by the end of September, the ICBC's deposits in renminbi increased 268.3 billion yuan over the beginning of the year. Of this amount, savings deposits increased 147.8 billion yuan, and corporate deposits increased 120.5 billion yuan.
At the same time the bank granted loans totaling 1.16 trillion yuan, and the outstanding amount of loans increased 180.9 billion yuan.
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