Business / Corporate Reports

Industrial Bank H1 profit up 26.52%

(Xinhua) Updated: 2013-08-13 13:30

FUZHOU -- Industrial Bank, one of China's second-tier shareholding commercial banks, reaped 21.64 billion yuan ($3.5 billion) in net profits in the first half of 2013, up 26.52 percent year on year, according to its semi-annual report released Tuesday.

The bank posted 53.46 billion yuan in revenues from the start of January to the end of June, up 29.7 percent year on year, according to the report.

Mounting service charges and commissions contributed to the rising revenues, it said.

The bank's daily outstanding deposits on average in the first half year stood at 1.965 trillion yuan, up 32.65 percent than the beginning of 2013, it said.

The balance of its non-performing loans stood at 7.625 billion yuan by the end of June, accounting for 0.57 percent of the total, according to the report.

Industrial Bank, headquartered in Fuzhou City of east China's Fujian Province, was established in 1988 and listed on the Shanghai Stock Exchange in 2007.

Hang Seng Bank Limited and Tetrad Ventures Ptd Ltd were among its top 10 shareholders by March 2012, according to the bank's official website.

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