City-based commercial banks lead in profit growth in Jan-Sept period

Chinese banks present a divided picture with regards to the January-September profit growth.

While large State-owned commercial banks announced net profit growth of less than 1 percent, city-based commercial banks listed on the Shanghai and Shenzhen stock exchanges posted double-digit growth in their net profit.

Headquartered in Nanjing, Jiangsu province, Bank of Nanjing Co Ltd recorded a 24.48 percent growth in net profit. Bank of Ningbo Co Ltd and Bank of Beijing Co Ltd posted net profit growth of 16.06 percent and 12.26 percent, respectively.