(Photo : Industrial & Commercial Bank of China Ltd.)

August 29^th, Industrial & Commercial Bank of China Ltd. (ICBC) revealed the company's 2013 Interim Results Announcement. Based on International Financial Reporting Standards (IFRS), in first half of 2013, ICBC gained a net profit of 138.5 billion yuan ($22.3 billion USD), representing an increase of 12.4% as compared to the same period of 2012. As a result, ICBC becomes the most profitable bank in the world.

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According to ICBC's 2013 Interim Results Announcement, the basic earning per share is 0.4 yuan, representing an increase of 0.05 yuan compared to the same period of 2012. The net asset value is 3.35 yuan per share, with an increase of 0.13 yuan compared to the previous year.

ICBC's return on average total assets (ROA) is 1.53%, which is calculated by dividing net profit by the average balance of total assets at the beginning and at the end of the reporting period. And the return on weighted average equity is 23.25%, which is calculated by dividing net profit attributable to equity holders of the parent company by the weighted average balance of equity attributable to equity holders of the parent company. The above two figures represent increases of 0.08% and 0.23% respectively compared to the previous year.  

As at the end of June 2013, the Bank calculated capital adequacy ratios at various levels in accordance with the Capital Regulation. The capital adequacy ratio stood at 13.11%. The core tier-one capital adequacy ratio and tier-one capital adequacy ratio are both 10.48%. These figures all meet Chinese regulatory requests. At the same time, there is still a moderate margin of safety. At the end of June 2013, the non-performing loans ratio of ICBC is 0.87%, with a slight increase of 0.02% comparing to the beginning of this year. In order to preventing risk factors, ICBC further strengthens its risk management system to ensure the overall control of various risks.