ICBC Expected to Post Lower Third-Quarter Net Profit -- Earnings Preview

Dow Jones10-29

By Kosaku Narioka

Industrial & Commercial Bank of China is scheduled to report the third-quarter results on Wednesday. Here is what you need to know:

NET PROFIT: ICBC is expected to post a 4.0% drop in net profit to 91.15 billion yuan, equivalent to US$12.79 billion, for the three months ended Sept. 30, according to a poll of analysts by Visible Alpha. That would compare with net profit of 94.93 billion yuan in the year-earlier period.

The stock has risen 23% so far in 2024, closing Tuesday at 4.70 Hong Kong dollars, or US$0.60.

WHAT TO WATCH:

--First-half net interest income--the difference between interest earned on loans and that paid on deposits-- fell 6.8% to 313.95 billion yuan. Investors will be focusing on any further deterioration in the bank's primary source of earnings.

--Impairment losses on assets dropped 17% to 102.07 billion yuan in the first half. Investors will be paying attention to the bank's credit costs as economic uncertainty continues in the world's second-biggest economy.

--The bank's nonperforming loan ratio declined to 1.35% at the end of June from 1.36% at the end of December. Investors will be closely monitoring changes in the quality of assets.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

October 29, 2024 05:53 ET (09:53 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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That would compare with net profit of 94.93 billion yuan in the year-earlier period. \n</p>\n<p>\n  The stock has risen 23% so far in 2024, closing Tuesday at 4.70 Hong Kong dollars, or US$0.60. \n</p>\n<pre>\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<p>\n  --First-half net interest income--the difference between interest earned on loans and that paid on deposits-- fell 6.8% to 313.95 billion yuan. Investors will be focusing on any further deterioration in the bank's primary source of earnings. \n</p>\n<p>\n  --Impairment losses on assets dropped 17% to 102.07 billion yuan in the first half. Investors will be paying attention to the bank's credit costs as economic uncertainty continues in the world's second-biggest economy. \n</p>\n<p>\n  --The bank's nonperforming loan ratio declined to 1.35% at the end of June from 1.36% at the end of December. 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Here is what you need to know: \n\n\n \n\n\n  NET PROFIT: ICBC is expected to ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IDCBY","symbol_name":"工商银行ADR","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2479758424","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479758424","pubTimestamp":1730195580,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Industrial & Commercial Bank of China is scheduled to report the third-quarter results on Wednesday. Here is what you need to know:. 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Investors will be paying attention to the bank's credit costs as economic uncertainty continues in the world's second-biggest economy.--The bank's nonperformin","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"601398":"工商银行","IDCBY":"工商银行ADR","POST":"Post Holdings","01398":"工商银行"},"translate_title":"工商银行预计第三季度净利润将下降——盈利预览","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601398":0.9,"01398":1,"POST":1,"IDCBY":0.9},"content_text":"By Kosaku Narioka \n\n\n \n\n\n  Industrial & Commercial Bank of China is scheduled to report the third-quarter results on Wednesday. Here is what you need to know: \n\n\n \n\n\n  NET PROFIT: ICBC is expected to post a 4.0% drop in net profit to 91.15 billion yuan, equivalent to US$12.79 billion, for the three months ended Sept. 30, according to a poll of analysts by Visible Alpha. 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