Industrial Bank net profits up 32% in Q1
Updated: 2013-04-23 17:27
By WU YIYAO in Shanghai (chinadaily.com.cn)
|
|||||||||||
Shanghai-listed Industrial Bank Co Ltd saw a 32 percent year-on-year increase in net profits in the first quarter of 2013, according to the lender’s Q1 report. This translated into 11 billion yuan ($1.8 billion),.
The Fuzhou-based lender reported a 36 percent year-on-year increase in net profits for 2012, which was 34.7 billion yuan, the report said.
The bank said its forecasted net profit for 2013 will be 15.3 percent higher than that of 2012. The forecasted growth rate may be less than half of that in 2012.
The balance of non-performing loans (NPL) by the end of March 2013 was 6.36 billion yuan, with a rate of 0.49 percent. By the end of 2012, Industrial Bank's NPL was 5.29 billion yuan.
Analysts said lenders need to watch out for NPLs.
Industrial Bank said in its report that it will continue to strengthen its wealth management, investment banking and asset management services.
In 2012, the private banking sector of Industrial Bank saw 145 billion yuan value of issued wealth management products.
Related Stories
Loan guidance is good for banks, report says 2013-04-22 14:26
Banks urged to be more vigilant about credit card applications 2013-04-10 08:12
Industrial Bank net profit up 36% last year 2013-01-10 15:08
China's Industrial Bank profit up 40.92% in Q3 2012-10-31 09:24
China Industrial Bank plans up to 50b yuan bond issue 2011-03-29 14:20
Industrial Bank profits rise 39% in 2010 2011-03-29 10:19
Today's Top News
Chinese fleet drives out Japan's boats from Diaoyu
Net forex purchases for fourth month
No new stimulus needed: Experts
Chinese president appoints 5 new ambassadors
No H7N9 transmission between humans: WHO
Health new priority for quake zone
China, ROK criticize visits to shrine
Sino-US shared interests emphasized
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Supplies pour into isolated villages |
All-out efforts to save lives |
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |