Asia Unhedged | ICBC joins other China banks posting surprising profits
The Industrial and Commercial Bank of China Ltd (ICBC) logo is seen on a building at sunrise Buenos Aires. Photo: Reuters, Enrique Marcarian
The Industrial and Commercial Bank of China Ltd (ICBC) logo is seen on a building at sunrise Buenos Aires. Photo: Reuters, Enrique Marcarian
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ICBC joins other China banks posting surprising profits

Some analysts expect earnings growth to pick up this year

March 30, 2017 9:21 PM (UTC+8)

Industrial & Commercial Bank of China posted unexpected full-year profit gains, with net income rising to US$40.4 billion, reports Bloomberg.

The surprising performance comes on top of similar surprises from Agricultural Bank of China and China Construction Bank.

Bank earnings growth is set to accelerate as loan margins stabilize this year, Bloomberg reports, citing industry analysts.

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