By Kosaku Narioka
Industrial & Commercial Bank of China reported a rise in third-quarter net profit, thanks to stronger gains from trading and financial investments, as well as lower credit costs.
The Chinese bank said Thursday that net profit climbed 3.3% from a year earlier to 101.805 billion yuan, equivalent to $14.34 billion, for the three months ended Sept. 30.
ICBC said net trading income jumped 43% to 7.96 billion yuan and net gains on financial investments surged 94% to 9.835 billion yuan.
Credit impairment losses dropped to 22.13 billion yuan from 27.14 billion yuan.
Net interest income--the difference between interest earned on loans and that paid on deposits--declined 1.8% to 159.84 billion yuan, as loan interest rates continued to fall in the country.
Major Chinese banks like ICBC have been cutting lending rates as policymakers have taken steps to bolster an economy battling deflation and a flagging property market.
Net fee and commission income increased 4.1% to 23.85 billion yuan.
The lender's nonperforming-loan ratio declined to 1.33% from 1.34% at the end of 2024.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
October 30, 2025 05:50 ET (09:50 GMT)
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