ICBC said it made a net profit of 109.48 billion yuan in January-June, in line with analysts' expectations for 106.9 billion yuan, according to a Reuters survey of 9 analysts.

It was also higher than the 84.6 billion yuan it made the same period last year.

ICBC, in which Goldman Sachs and American Express hold stakes, has seen its Hong Kong-listed shares fall by about a quarter in the past three months over fears that there could be a spike in bad loans if the Chinese economy slows.

Copyright Reuters, 2011