Chinese banking giant ICBC, the world’s biggest bank by assets, posted solid profit growth for the first half of the year Thursday but warned that the US-China trade war could pose risks.
Net profit for Industrial & Commercial Bank of China climbed almost five percent to 160.4 billion yuan ($23.5 billion) between January and June compared to the same period last year, the bank said in a statement to the Hong Kong exchange, where it is listed.
The country’s three other top banks posted similarly strong results this week.
China’s second-largest lender, China Construction Bank, said earlier this week that its net profit grew 6.3 percent to 147 billion yuan.
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Agricultural Bank of China reported a 6.6 percent jump to 115.8 billion yuan.
Bank of China said net profit was up 5.2 percent to 109.1 billion yuan in the first half.
