ICBC announced its first-quarter performance in 2009 on April 27, 2009. In accordance with the International Financial Reporting Standards, ICBC has achieved an after-tax profit of RMB 35.289 billion, an increase of 6.03% over the same period of last year. Earnings per share amount to RMB 0.11, an increase of 10% over the same period of last year. 

With its operating performance showing a steady growth, ICBC's asset quality and performance of risk management have also been enhanced. By the end of the first quarter in 2009, ICBC has realized a "double decline" of both the amount and the ratio of non-performing loans; the balance of which has been reduced RMB 1.832 billion from the end of last year; and its ratio has dropped 0.32% to 1.97%. During the same period, ICBC's provision coverage rate has continued to rise, increasing 1.87% to reach 132.02%, which demonstrates a stronger capability to hedge risks.  

Since last year, under the spreading impact of international financial crisis, China's economy has confronted great difficulties in sustaining a steady and rapid growth, so have the commercial banks. In such a harsh business environment, ICBC has adhered to its development model of steady operation, responded actively to the crisis, and implemented a great many measures to maintain the momentum of healthy growth. Take ICBC's deposit-taking business as an example, up to the end of the first quarter, ICBC's balance of deposits has hit RMB 9.1 trillion, an increase of nearly RMB 900 billion from the end of last year, thus beating its peer banks in Europe, the US and Japan and becoming the bank with the largest customer deposits in the world. As ICBC has insisted on the fundamental status of deposits and not relied mainly upon market financing, ICBC has displayed a rather stable performance in the financial crisis. Even in this year which witnesses a relatively rapid loan growth, ICBC's loan/deposit ratio is only 57.6%, showing a solid basis for sustainable long-term development.

In the first quarter, ICBC has further carried out the national macro-economic policy to expand the domestic demands and the moderate monetary policy. Not only has ICBC provided more loans with their risks cautiously controlled, but also has adjusted its loan structure; hence providing effective financial support for China's economic development and boosting its own operating performance. In the first quarter, ICBC's loans have grown by RMB 636.4 billion, 13.92% in ratio, a rise of RMB 457.7 billion over the same period of last year. As to the loans' directions, ICBC has provided active support for construction of national key projects and development of key industries and enterprises in line with the national industrial policies. In addition, ICBC has attached great importance to small and medium-sized enterprises which play a significant role in promoting economic growth and increasing employment, and has improved the financial services offered specially for them, especially the small enterprises. In the first quarter, ICBC has increased its loans to small and medium-sized enterprises by RMB 396.5 billion, which takes up 61% of the total increased amount during this time, thus well meeting their capital needs. As to people's livelihood, ICBC has provided positive support for the enlargement of domestic needs. In the first quarter, domestic personal loans have risen by RMB 52.5 billion, over RMB 23.9 billion more than that in the same period last year. Meanwhile, ICBC has strictly followed the principle of "encouraging the growth of some sectors while discouraging the expansion of others", thus effectively controlling the volume of loans to highly power-consuming and polluting projects, projects belonging to industries with overcapacity, and redundant constructions.

It is noteworthy that, ICBC, relying on its strong customer base, efficient distribution network and structure of diversified products, has seen a momentum of rapid growth in its intermediary businesses. In the first quarter, while creating more value for customers, ICBC's net revenue of fees and commissions has reached by RMB 13.5 billion, an increase of 9.66% compared the same period of last year, 11.7% over the second quarter, 34.1% over the third, and 43.8% over the fourth, which has greatly promoted the overall growth of profits.

Since the second half of last year, such business as funds sales that are greatly affected by the capital market has experienced a steady pick-up. A number of traditional intermediary businesses in ICBC which enjoys advantages, has stably grown, among which the revenue of RMB settlement business has increased 27.45%; besides, the contribution of newly-developed businesses to intermediary businesses are also increasing. For example, in the first quarter, ICBC has successfully underwritten short-term financing instruments and medium-term bills in 12 projects, the volume underwritten reaching RMB 71.9 billion, a year-on-year increase of 152 percent, which ranks No.1 in the market. ICBC's financial management business continues to develop, which in the first quarter, has issued a total of RMB 1.2 trillion, a year-on-year increase of 6.73 times, and kept its leading position in the banking circle. The credit cards issued amounts to 42.62 million, an increase of 3.57 million from the beginning of the year, and the volume of consumption totals RMB 93.6 billion, an increase of 82%, which together have further strengthened ICBC's advantages in this area. ICBC's banking transactions has reached RMB 32 trillion, accounting for 44.5% of all businesses, an increase of 1.4% from the beginning of the year.