ICBC Saw Stabilization in Net Interest Margin in the Third Quarter; Top-Line Growth Remained Slow
Industrial and Commercial Bank of China's results for the first three quarters posted a 0.5% net profit growth against the year-ago period. The results reflected slowing top-line growth, with total revenue and preprovision profits further slowing to a 1.3% decline and 0.6% growth, respectively. ICBC was one of two banks among state-owned enterprise banks to demonstrate stabilization in its net interest margin, indicating its funding cost advantage and the completion of the loan rate repricing cy...
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