Highlights

Bank of Nanjing profits up 49.53%

(chinadaily.com.cn)
Updated: 2010-08-11 16:10

Bank of Nanjing said Tuesday its net profit soared 49.53 percent to 1.197 billion yuan in the first six months of this year, with earnings per share standing at 0.5 yuan, up 47.06 percent year-on-year.

The bank's total revenue in the period also grew 47.18 percent to 2.563 billion yuan. The surge mainly came from its interest income growth, the Nanjing-based bank said in its interim report.

At the end of June, the lender's gross assets were up to 1.962 billion yuan, an increase of 31.15 percent from six months ago. The bank attributed the surge to the increase of credit and financing businesses.

The capital adequacy ratio of the bank declined to 11.59 percent from 14.07 percent at the end of 2009, while the core capital adequacy ratio also declined to 10.53 percent as of June 30.

The bank recorded a balance of 805 million yuan in nonperforming loans in the period, with the nonperforming loan rate standing at 1.05 percent, which was 0.17 percent lower than six months earlier.

Shares of Bank of Nanjing closed at 11.16 yuan Wednesday, down 0.09 percent.