The Hong Kong and Shanghai-listed bank said it adapted to the “new normal” amid complicated macroeconomic conditions as managed assets in private banking grew by 24 per cent to RMB910 billion over the half-year. Assets under custody grew 12 per cent to over RMB6.5 trillion, making the bank the biggest custodian bank in China, ICBC said in the results statement.

Meanwhile, the balance of wealth management products reached RMB2.1 trillion, up 7.9 per cent. Net fee and commision income from the bank's personal wealth management and private banking services almost doubled from RMB10.1 billion a year ago to RMB19.05 billion.

ICBC's non performing loans ratio reached 1.4 per cent, up 0.15 percentage points from the end of last year. 

“In spite of an increase from the end of 2014, the Bank’s NPL ratio still remained at a relatively healthy level in the first half of 2015 compared to peers in China and abroad,” ICBC said.