RPT-China's ICBC Q1 profit flat, within estimates

April 28, 2016 8:45 AM

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SHANGHAI, April 28 Industrial and Commercial Bank of China Ltd (ICBC) , China's biggest lender by assets, reported on Thursday flat net profit in the first quarter as bad debt rose.

Profit was 74.8 billion yuan ($11.54 billion) in the three months through March from 74.3 billion yuan in the same period a year earlier, the bank said in a statement. The market had expected a 0.18 percent rise in profit, according to brokerage estimates compiled by Thomson Reuters.

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