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Papa-Smerf
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 Posted: Thu 3:34, 10 Feb 2011 Post subject: Bank of Beijing's net profit hits RMB 2.92 bln in |
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Post time:2009-08-27Source:www.chinaknowledge.comAuthor:reprintEditor:jinxiaomei
Bank of Beijing Co Ltd<601169>,[link widoczny dla zalogowanych], China‘s largest city commercial bank by assets, announced today that its net profit climbed 0.75% year on year to RMB 2.92 billion in the first half of this year.
Basic earnings per share were RMB 0.47,[link widoczny dla zalogowanych], according to the bank‘s interim report.
The lender‘s gross profit in the first six months was RMB 3.73 billion,[link widoczny dla zalogowanych], up 1.04% from a year earlier.
Bank of Beijing attributed the increase in profit to an increase in loans during the same period,[link widoczny dla zalogowanych], which offset a decline in net interest margins.
The bank extended RMB 56.7 billion in new loans in the first half,[link widoczny dla zalogowanych], which brought its outstanding loans to RMB 249.8 billion at the end of June, 29.39% more than at the beginning of this year.
The bank‘s income from intermediate business surged 29.64% from a year earlier to RMB 323 million during the period from January to June.
By the end of June, the lender‘s capital adequacy ratio and core capital adequacy ratio were 16.12% and 13.48%, down from 19.66% and 16.42% at the start of this year, respectively.
Bank of Beijing also said that its board of directors has approved plans to set up a consumer finance firm that will be based in Beijing and have a registered capital of RMB 300 million.
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