Bank of Beijing net profit up 9.5% in Q1

BEIJING - Bank of Beijing, a commercial bank in the Chinese capital, reported a net profit of 6.3 billion yuan ($940 million) in the first quarter of 2019, up 9.5 percent year-on-year.

The lender said in a press release Wednesday that it had become the country's first city commercial bank to earn a net profit of 20 billion yuan in 2018, with an annual 6.8 percent growth.

Its revenue rose 10.2 percent to 55.5 billion yuan last year.

Its total assets exceeded 3.3 trillion yuan by the end of 2018, up around 10 percent from a year ago.

Its non-performing loan ratio fell to 1.4 percent at the end of March from 1.46 percent at the end of last year.