China's digital currency is taking shape. Photo: iStock

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.

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