Skip to content
Subscriber Only

ICBC Posts Biggest Jump in Bad Loans Since ’06 on Economy

Updated on

Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, reported its biggest jump in bad loans since at least 2006 as the property market slumped and the economy cooled.

Nonperforming loans rose 9 percent in the third quarter from the previous three months, the Beijing-based bank said in an exchange filing yesterday. Net income gained 7.7 percent from a year earlier to 72.4 billion yuan ($11.8 billion), matching the median analyst estimate in a Bloomberg News survey.