2010-10-28 10:46

BEIJING - China Everbright Bank announced Wednesday its net profit in the first three quarters of this year had surged 71.35 percent year on year to 10.06 billion yuan ($1.5 billion).

The jump in net profit was due to an increase in interest-bearing assets and interest margins, the bank said in its Q3 business report filed with the Shanghai Stock Exchange.

By the end of September, the bank's total assets stood at more than 1.49 trillion yuan, up 24.49 percent from the start of the year.

The non-performing loan ratio was 0.87 percent, down 0.38 percentage points during the same period, said the report.

Its capital adequacy ratio was 11.94 percent, also 1.55 percentage points higher at the end of the first nine months of this year.

Shares of the bank rose 0.23 percent to 4.44 yuan on Wednesday.

Headquartered in Beijing, the bank made its debut on the Shanghai stock market on Aug 18 this year, raising 18.9 billion yuan at an initial public offer price of 3.1 yuan per share.