The Industrial and Commercial Bank of China Ltd (ICBC) said it has donated 10.28 million yuan ($1.51 million) to drought-hit areas in southwestern China.

ICBC, China's biggest listed lender, extended 4.33 billion yuan in loans between October 2009 and the end of first quarter to help fight the drought in southwestern China, a statement on the ICBC website said.

The bank facilitated donation channels and cut fees on donations to the drought-hit areas, according to the statement.

As of Thursday the drought had affected 25.95 million people and 18.44 million livestock, as well as 121 million mu (8.07 million hectares) of arable land, according to the Office of State Flood Control and Drought Relief Headquarters.