BEIJING, Aug.31 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC), China’s largest lender by market value, announced on Thursday that it granted about 1.68 trillion yuan of credit in the first quarter of this year to increase its support for major national strategies and key projects.
According to the announcement, the bank’s bad loan ratio stood at 1.54 percent during the January-June period, registering a decline for six consecutive quarters.
By the end of June, the bank generated 160.7 billion yuan of net profits, up 4.5 percent year on year. (Edited by Yang Yifan, yangyifan@xinhua.org)