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ICBC 2017 Business Overview

In 2017, the Bank achieved a net profit of RMB287.5 billion, representing an increase of 3.0% compared with last year, and 2.5 percentage points higher than the growth rate of last year. The total net profit remained the best in the global banking industry. The profit before provision reflecting the growth of the business reached RMB492.4 billion, representing an increase of 9.1%. Profitability is the final result and comprehensive reflection of operation and management, and its improvement mainly comes from three aspects.

First, the effect of transformational innovation. The rapid emergence of new growth momentum has become the main driving force for profit growth. For example, the contribution of operating income from mega retail and the financial markets businesses continued to increase; the net profit of overseas and controlled institutions increased by 12.6%.

Second, the effect of quality improvement. The NPL ratio dropped by 0.07 percentage points from the end of the previous year to 1.55%, which was the first time to achieve the “single drop” since the “double increase” of non-performing ratio and non-performing loans in 2013.

Third, the effect of cost control. Net interest margin (NIM) increased by 6 basis points to 2.22% from the previous year, and the improvement of the deposit structure effectively reduced interest payment costs. The cost-to-income ratio was 26.45%, remaining at a good level among our peers.

Despite being faced with complicated contradictions and increasing risks and challenges, the Bank was able to achieve the operation results better than planned, better than the same period of previous year and better than expected, and maintained a stable and steady development trend, benefitting from always being able to maintain clear minds and strategic composure, observe the overall trend, implement practical work, and coordinate efforts to carry out initiatives such as strengthening entities, controlling risk and promoting reform.


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