RETAIL BANKING | Cesar Tordesillas, China

China Everbright profit up 40.65% for first 3 quarters

China Everbright Bank's profit jumped 40.65 percent year on year to  14.15 billion yuan or 2.23 billion U.S. dollars for the first three quarters of the year.

The bank attributed the profit growth to an increase in net interest income, which rose 30.68 percent year on year to 28.98 billion yuan in the nine-month period, according to its regulatory filing at the Shanghai Exchange, reports Xinhua.

The lender's income from fee-based services and commissions increased by 43.86 percent to hit 5.35 billion yuan for the first three quarters.

By the end of September, the value of the bank's total assets increased 12.54 percent to 1.67 trillion yuan from the beginning of this year, it said.

During the same period, the lender's non-performing loan ratio dropped 0.1 percentage pointd to 0.65 percent, the statement said.

By the end of September, the lender's capital adequacy ratio, which measures a bank's ability to deal with risk assets, stood at 10.93 percent, down 0.09 percentage pointd from nine months ago.

Meanwhile, its core capital adequacy ratio rose 0.09 percentage pointd to 8.24 percent, the statement said.

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