The growth rates of net profit among China’s big five banks exceeded 5% for the first three quarters, with asset quality and profitability improved, Yicai.com reported.
The Agricultural Bank of China achieved the fastest growth rate among them, with a 7.25% increase. While the Industrial and Commercial Bank of China, whose assets exceeded 28.2 trillion yuan, had the lowest growth rate of 5.1%.
That of the Bank of Communications, Bank of China and China Construction Bank were 5.3%, 5.34% and 6.39%, respectively.
The net profit of the five major banks in the first nine months totalled 835.92 billion yuan, earning an average of 3.1 billion yuan (US$444.93 million) per day.
The Industrial and Commercial Bank is still the most profitable — its net profit in the first three quarters reached 239.63 billion yuan, compared to the Bank of Communications, which was the least profitable, earning 57.304 billion yuan.