0958 GMT - As Industrial & Commercial Bank of China is set to report 1Q results on Monday, investors are focusing on any further deterioration in net interest income, its primary source of earnings. Net interest income fell 5.3% to CNY655.01 billion in 2023 as loan interest rates have dropped in China. In February, the country's five-year loan prime rate was lowered to 3.95% from 4.2%. The quality of ICBC's loans is also being closely watched, as the crisis continues for the country's real-estate industry. The bank's non-performing loan ratio declined to 1.36% at the end of December from 1.38% at the end of 2022. (kosaku.narioka@wsj.com; @kosakunarioka)
(END) Dow Jones Newswires
April 26, 2024 05:58 ET (09:58 GMT)
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