BEIJING/SHANGHAI, April 29 (Reuters) - Industrial and Commercial Bank of China Ltd (ICBC) , the world's largest lender by assets, said net profit fell 2.78% in the first quarter of this year.

Profit was 87.65 billion yuan ($12.10 billion) in the three months ended March, compared with 90.16 billion yuan in the same period last year, the bank said in a filing on Monday.

($1 = 7.2436 Chinese yuan) (Reporting by Ziyi Tang and Engen Tham; Editing by Jacqueline Wong)