For the first three months of 2024, net profit amounted to RMB 88,1 million, representing a decrease of 2.98 % compared to the same period of 2023. Annualized return on average total assets and annualized return on weighted average equity were 0.76 % and 10.06 %, down 0.13 and 1.16 percentage points respectively.

Operating income amounted to RMB 210,2 million, representing a decrease of 3.80 % compared to the first quarter of 2023. Net interest income was RMB 161,4 million, which means a 4.16% decrease on the year-on-year basis. The results were announced in the financial report for the first three month period of 2024.

Despite the decrease of both operating and net profits the stocks of Industrial and Commercial Bank of China recorded a solid development since the beginning of this year. They have gained almost 35 percent on the year-to-date basis. This does not differ too much from the year-on-year development – the ICBC stocks have gained just close to 39 percent. During the last five years the ICBC stocks´ market value increased only by 19.2 percent.

The Industrial and Commercial Bank of China was established in 1984 as a state bank. Its task was to finance the development of the Chinese economy, especially its industrial part. It later began to change into a standard commercial bank, and in 2006 part of it was listed on the Shanghai Stock Exchange and also in Hong Kong. It is currently one of the largest banking houses in the world. It serves around 680 million households and 8.6 million companies.

The ICBC kept its operating profit and net profit on the relatively stable level during the last three years. Anyway, the operating profit decreased slightly in 2023 – it dropped by 4.3 percent. On the other hand the net income increased by 0.8 percent. The ICBC believes that it is resilient and stable, and is able to achieve the objectives and tasks of the 14th five-year plan as the ICBC celebrates the 40th anniversary of its establishment in 2024.