China’s biggest bank ICBC posts 1.9% fall in Q4 profit

BEIJING: Industrial and Commercial Bank of China (ICBC), the world’s largest-listed lender by assets, reported a 1.9% fall in fourth-quarter net profit on Thursday.

Net profit for the three months ended December fell to 94.7 billion yuan ($13.76 billion) from 96.5 billion yuan a year earlier, it said in a stock exchange filing.

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Profit for the full year increased 3.5% to 360.5 billion yuan, above a Refinitiv estimate of 356.61 billion yuan drawn from 17 analysts.