ICBC profit expands in 2022

BEIJING, April 2 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC), China's biggest commercial lender, reported a net profit increase of 3.5 percent last year.

The company's net profit attributable to shareholders stood at 360.48 billion yuan (about 52.46 billion U.S. dollars) in 2022, according to its annual report.

Its business revenue dropped 2.6 percent year on year during the period, according to the report.

Last year, the ICBC provided over 6.4 trillion yuan of financial support to the real economy.

By the end of 2022, its non-performing loan ratio stood at 1.38 percent, down 0.04 percentage points from the end of 2021.