ICBC Macau profits rise 3.3pct y-on-y in Jan-Sept

Industrial and Commercial Bank of China (Macau) Limited has recorded a total of MOP2.2 billion (US$275.4 million) in net profits between January and September of this year, a 3.3 per cent increase from the amount recorded in the same period last year, financial reports published by the bank at Official Gazette reveal.

In total the bank recorded some MOP8.3 billion in revenue as of September 30, a 6.3 per cent year-on-year drop, but with expenses also falling by 9.3 per cent to MOP6.1 billion.

During this period, ICBC Macau also held MOP2.1 billion in deposits in foreign currencies, and MOP880 million in patacas (MOP).

The bank had also handed out MOP235.5 billion in loans as of September 30 of this year, 11 per cent more than in the same period of last year.