The net profit of the Industrial and Commercial Bank of China (ICBC) increased by 6.16% year on year, and of the China Construction Bank (CCB) and of the Bank of China (BC) respectively have a decrease of 18.25% and 14.40% comparing to the same period last year. Despite the revenue reduction, the CCB and the BC have made a better performance than their overseas counterparts in the global financial crisis.

The 3 major commercial banks implemented a net profit of 80 billion yuan in the first quarter.

Comparing to the same period last year, the net profit made by the BC reduced by 14.40% to 19.286 billion yuan with a gain of 0.07 yuan per share, down for 0.02 yuan.

By the end of Q1, the RMB loans by the Domestic Institution of the BC have increased by 569.4 bln yuan, 24% higher than that of the last year's end. The net profit of the ICBC went up to 35.153 bln RMB yuan with a gain of 0.11 yuan per share.

There is a soaring trend for the brokerage business.

Over the first quarter of 2009, the BC's non-interest revenue totaled 13.695 bln yuan, decreasing by 19.67%. The ICBC has returned to the highway ahead for a quick business development. The CCB made a net income of 11.84 bln yuan from  the handling charges and commisions, a year on year increase of 10.4%. Though less than the increase of 30%-40% during the same period last year, it has been beyond the market expectations.

The  narrowing of interest spread led to the drop of the net interest income.

The Q1 fiscal reports of the 3 major commercial banks reflect varing degrees of reduction of the net interest income, the primary revenue source for commercial banks, though a stable business development has been made. A banking analyst gave his view on the reduction of the net interest income that it was attributable to the narrowing of interest spread and the increase of provision. Generally speaking, however, the operating conditions of the banking sector still basically keep normal. Since the first quarter of last year coincided with the best time for corporations to make profits, along with the downturn of the bank base rate, the ascending speed of profitting for them can be expected in the future.

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