ICBC's First-Half Net Profit Fell on Higher Credit Costs
By Kosaku Narioka
Industrial & Commercial Bank of China reported a drop in first-half net profit due partly to higher credit costs.
The Chinese bank said Friday that net profit fell 1.4% to 164.43 billion yuan, equivalent to $23.06 billion, for the first six months of 2025. That narrowly beat the estimate of 164.05 billion yuan in a poll of analysts by data provider Visible Alpha.
Net interest income--the difference between interest earned on loans and that paid on deposits--declined to 313.58 billion yuan from 313.95 billion yuan in the year-earlier period as loan interest rates have fallen in the country.
Big Chinese lenders such as ICBC have been cutting lending rates in recent years as policymakers take steps to shore up consumer confidence and a flagging property market.
Credit impairment losses increased to 104.01 billion yuan from 101.81 billion yuan.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
August 29, 2025 05:07 ET (09:07 GMT)
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