On August 28, financial sector sources reported that ICBC (referred to as Industrial And Commercial Bank Of China Limited on the A-share market, stock code 601398, and ICBC on the H-share market, stock code 01398) released its interim results today.

The data reveals that for the first half of the year, the bank achieved a net profit of 176.475 billion yuan, reflecting a year-on-year increase of 4.5%. The annualized average total asset return ratio stood at 0.64%, while the annualized weighted average return on equity reached 8.63%.

Operating income totaled 446.163 billion yuan, marking a growth of 9.1%. This included net interest income of 341.237 billion yuan, up 8.8%, and non-interest income of 104.926 billion yuan, which saw a more robust increase of 9.9%.

Operating expenses amounted to 111.379 billion yuan, a rise of 2.6%, bringing the cost-to-income ratio to 23.70%. The bank also set aside 127.756 billion yuan for asset impairment losses, representing a significant increase of 22.2%. Additionally, income tax expenses were recorded at 33.535 billion yuan, up 11.0% from the previous year.