Bank of Communications profits up 6.73% in 2013

A branch of the Bank of Communications Ltd in Qiqihar, Heilongjiang province. Bank of Communications, China's fifth largest lender, said on March 30 that its net profits reached 62.3 billion yuan ($10.13 billion) in 2013, up 6.73 percent year on year. Wang Yunlong / for China Daily

BEIJING - Bank of Communications, China's fifth largest lender, said on Sunday that its net profits reached 62.3 billion yuan ($10.13 billion) in 2013, up 6.73 percent year on year.

The bank said that its profits mainly came from net interest income, service charges and commission, according to its annual business report filed with the Shanghai Stock Exchange.

The Shanghai-headquartered bank said its customers' deposit balance stood at 4.15 trillion yuan as of the end of 2013, up 11.52 percent; its outstanding loans stood at 3.26 trillion yuan, up 10.83 percent.

As of the end of 2013, the bank's total assets reached 5.96 trillion yuan, up 13.04 percent from year-beginning, while its non-performing loan ratio stood at 1.05 percent, a slight increase of 0.13 percentage point compared to the start of 2013, the report showed.

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