Industrial and Commercial Bank of China, the world’s largest bank by market cap, reported a 6% annual rise in Q1 net profit on Monday, thanks mainly to rising fee income. However, while the results were stronger than that of many of ICBC’s foreign peers, they also signal growing pressures on net interest margins following a series of rate cuts by China’s central bank.

This entry was posted by Gwen Robinson on Tuesday, April 28th, 2009 at 5:01 and is filed under Capital markets. Tagged with icbc. Edit this entry.