China's CZBank posts net profit growth in 2022

BEIJING -- CZBank, one of China's 12 nationwide joint-stock commercial banks, reported net profit growth of 7.67 percent in 2022.

The Hangzhou-headquartered lender raked in about 13.62 billion yuan ($1.98 billion) in net profit attributable to shareholders in the period, according to its annual financial statement.

Its business revenue stood at 61.085 billion yuan, expanding 12.14 percent year-on-year.

In particular, the bank's non-performing loan ratio was 1.47 percent, 0.06 percentage points lower from the end of 2021, marking the first decline registered in the past five years.

Outstanding inclusive loans issued to small and micro businesses stood at 277.29 billion yuan as of the end of 2022, up 17.22 percent compared with the start of the year, the CZBank said.