Banks' net profit up 34.5 percent: CBRC

Moody's says outlook for lenders is stable as economic growth continues

BEIJING - China's banks made a net profit of 899.1 billion yuan ($137 billion) last year, up 34.5 percent from a year earlier, the fastest pace in three years, the China Banking Regulatory Commission (CBRC) said in a report released on Tuesday.

Net interest margin contributed 66 percent to the profit, up by 3 percentage points from 2009, followed by gains from investment, which contributed 21 percent. Net income from fees and commissions accounted for 12 percent of the total profit, it said.