ICBC announces 2009 profits
by Richard Kilner
Story link: ICBC announces 2009 profits
The Industrial and Commercial Bank of China (ICBC) has announced its 2009 results, in accordance with the International Financial Reporting Standard.
The firm saw profits, after tax, surge by 16.3% compared to 2008, rising to RMB129.4 bn, with earnings per share up 18.2% to RMB0.39.
This marks the fourth consecutive year of post-tax profitable growth for the bank, which is the largest in the world in terms of market share.
The ICBC also saw its total assets rise by 20.8% to RMB11,785bn.
Its total domestic loan balance rose by 24.2% to RMB1,035.2bn across all branches, with the non-performing loan percentage falling by 0.75 to 1.54%.
Ninety-nine percent of firms receiving loans were eco-friendly, or eco-certified by the environmental protection department, with the remaining 1% given to firms in the process of becoming eco-certified.
Total deposits were up 21.4% to RMB10.7 trillion, with the ICBC becoming the largest bank in the world in terms of customer base.