ICBC Posts Slowing Top-Line Growth; Credit Quality Outlook Mixed
Industrial and Commercial Bank of China's first-half results posted a 0.8% net profit growth against mid-2015. The results reflected slowing top-line growth, with total revenue and preprovision profits increasing 0.4% and 1.4%, respectively, offset by an 82-basis-point improvement in the cost/income ratio to 21.51%. Net interest income declined 7% on slow interest-earning assets growth and a narrowing net interest margin, offset by 6% fee income growth supported by asset-management-related servi...
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