Banking

Hua Xia Bank reports 59% surge in net profit

(Xinhua)
Updated: 2011-03-26 14:46

BEIJING – Hua xia Bank Co Ltd, a Chinese commercial lender, said Saturday that its net profits in 2010 hit 5.99 billion yuan ($907.6 million), representing an increase of 59 percent from the previous year.

The Beijing-headquartered bank said in its annual business report that revenues last year went up 42.9 percent to hit 24.5 billion yuan.

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Earnings per share went up 60 percent to reach 1.2 yuan per share, according to the report posted on the Shanghai Stock Exchange website Saturday.

The Shanghai-listed bank's total assets amounted to 1.04 trillion yuan by the end of 2010, compared to 845.5 billion yuan by the end of 2009, the report said.

As of the end of 2010, the bank's total outstanding loans stood at 527.9 billion yuan, up 22.7 percent compared to the same period in 2009; meanwhile, the company's non-performing loan ratio decreased to 1.18 percent, down 0.32 percentage points compared to the end of 2009.