China's ICBC subprime provisions at 30 pct-report

SHANGHAI, Feb 4 (Reuters) - Industrial & Commercial Bank of China (601398.SS: Quote, Profile, Research, Stock Buzz)(1398.HK: Quote, Profile, Research, Stock Buzz) has set aside provisions covering 30 percent of its $1.2 billion of assets related to U.S. subprime loans, China Business News reported on Monday.

The newspaper quoted bank chairman Jiang Jianqing as revealing the provisioning figure at a meeting of bank officials last Friday.

ICBC has publicly said it has increased its provisions for U.S. subprime loans by an unspecified amount, and that those holdings make up only a small fraction of the bank's roughly $140 billion of assets. (Reporting by Andrew Torchia, editing by Ken Wills)