China’s Big Four banks report Q3 earnings

ICBC results are below expectations.

Industrial and Commercial Bank of China underperformed expectations, China's largest commercial bank, saw a 7.6% rise in net profit for Q3 missing estimates. Sluggish growth in interest income pummeled earnings despite strong gains in fees and commissions. ICBC’s non-performing loan ratio rose slightly from Q2.

Agricultural Bank of China, the third-biggest lender by market value, reported a Q3 net profit increase of over 15% on the back of higher fees. The bank’s bad loan ratio fell slightly from Q2.

Bank of China, secured a 14% rise in Q3 net profit on higher fee and commission income. Its bad loan ratio rose from the end of Q2.