Money
Industrial Bank profits rise 39% in 2010
Updated: 2011-03-29 10:19
(Xinhua)
BEIJING - Industrial Bank Co, a mid-sized lender in China, reported on Monday that its net profits rose 39.44 percent to 18.52 billion yuan ($2.81 billion) in 2010 due to solid demand for consumer and corporate loans.
The Fujian-based lender joined China Construction Bank and Bank of China in reporting increased annual earnings as demand for credit stayed strong in the world's fastest-growing major economy.
Also, earnings per share rose to 3.28 yuan from 2.5 yuan one year earlier. By the end of December, the lender's total assets had reached 1.85 trillion yuan, an increase of 38.85 percent year on year.
Its capital adequacy ratio, which measures a bank's ability to deal with risk assets, rose to 11.22 percent at the end of 2010, compared with 10.75 percent from one year earlier.
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