PingAn Bank net profit for H1 up 11.39 percent

The net profit growth of the PingAn Bank in the first half of 2013 was 11.39 percent, with net profit of more than 7.5 billion yuan ($1.23 billion), the company said late Thursday, one year after the consolidation of the Shenzhen Development Bank and PingAn Bank.

The half-year report showed that the half-year sales revenue of PingAn Bank exceeded 23.4 billion yuan, 19.36 percent higher than the same period the previous year, while the net income excluding interests was more than 4.8 billion yuan, an increase of 41.19 percent year-on-year, mainly due to a surge in intermediary services brought by investment banks and credit card services.