China's Industrial Bank says net profits up 6.54% in 2017

BY  | FROM Xinhua | 2018-01-16 14:17

  BEIJING - China's Industrial Bank, a mid-sized commercial lender, said Monday that its net profits increased 6.5 percent year-on-year to 57.4 billion yuan ($8.9 billion) in 2017.

  Despite a rise in profits, the bank's business revenue dropped 10.81 percent to 140 billion yuan last year, the Fujian-based lender said in a preliminary earnings estimate report to the Shanghai Stock Exchange.

  The bank said the its operations were "within expectations" in the past year, stressing a steady growth in total assets, which climbed 5.5 percent from a year ago to 6.4 trillion yuan.

  The bank's non-performing loan ratio stood at 1.59 percent at the end of December, down 0.06 percentage point from the beginning of 2017.

  Earnings per share were 2.75 yuan last year, down 0.72 percent from 2016.

  Industrial Bank's share price gained 0.39 percent to 18 yuan on Monday.

      Financial Times

    • Fed fears market misreading of guidance
    • The US Federal Reserve is keen to revamp its forward guidance about future interest rates but terrified of a market misunderstanding, according to the minutes of its September meeting


    • Asian shares rebound after Fed renews dovish credentials
    • Asian shares bounced back and the dollar fell on Thursday after minutes of the U.S. Federal Reserve's latest policy meeting showed policymakers have some concerns about downside risks to the global economy and the dol...


    • Nigeria succeeds at containing Ebola
    • People here are shaking hands again, kissing, hugging, touching. These days, shops are open, people are working, and children are finally going back to 
    Chinese Dictionary: