Industrial and Commercial Bank of China, the world's largest commercial bank in terms of market value, ranked top among all Chinese public businesses by net income at the end of the first nine months.

Net profit reached 185.6 billion yuan, 13.3 percent higher than a year earlier, according to ICBC's third quarter financial report.

Total revenue increased 14.1 percent year-on-year to 401.5 billion yuan during the period.

"The long-term investment value of ICBC is gradually increasing as its management and innovation capacity is improving," said Tang Yayun, securities analyst with Northeast Securities Co Ltd.

"But uncertainties from property policies and the domestic real estate market will influence investment expectations on the bank in the short term," Tang said.

He predicts ICBC will register a total net profit of 232.98 billion yuan in 2012 and 245.58 billion yuan next year, keeping it top of the profits list.

Below it was China Construction Bank, earning 158.2 billion yuan in net income in the first nine months, while Agricultural Bank of China gained 120 billion yuan, ranking it third.

The top 10 most profitable listed companies were seven commercial banks, which also include Bank of China, Bank of Communications, China Merchants Bank and China Minsheng Banking Corp, plus China National Petroleum Corporation, China Petrochemical Corporation and the Shenhua Group Co Ltd.

A recent report from Wistrategy Consulting, which provides studies and research on China's stock market, also forecast that ICBC will remain top of the profit list for the whole year, followed by CCB and CNPC.

The top 10 companies are likely to earn 1.08 trillion yuan in net profits for the full year, an 8.58 percent increase, but still well below the 18.89 percent rise enjoyed in 2011, the Wistrategy report said.

"The seven banks may gain total net income of 846.4 billion yuan this year, 48.11 percent of the CSI 300's profit, showing that State-owned commercial banks continue to hold a monopoly position in the economy," the consulting company added.

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