Top China bank ICBC posts 4% rise in profit
Profit was 82 billion yuan ($12.2 billion) for the first quarter, compared with nearly 79 billion yuan in the same period a year earlier, the bank said in a filing on Monday. That compared with an average projection for a 4.3% growth, two brokerage estimates compiled by Reuters show. The results from China’s biggest commercial lender indicate early signs of profit and asset-quality recovery amid optimism the world’s No.2 economy may be starting to stabilise.
News credit : Indiatimes