ICBC reports 'stable' profits of 263b yuan

Bank penetrates overseas markets to stabilize profit and dilute risks

Industrial and Commercial Bank of China Ltd posted a net profit of 263 billion yuan ($42.3 billion) in 2013, up 10.2 percent from the previous year.

ICBC kept its asset quality stable, with adequate allowance and controllable risk, by focusing on preventing risks in industries with excessive capacity as well as in small and micro-enterprises that are more vulnerable to economic fluctuations.