Industrial Bank Co. Ltd. reported a 6.60% year-over-year increase in net profit for the first half.
The company on Aug. 27 reported net profit attributable to equity holders of 35.88 billion yuan, up from 33.66 billion yuan in the year-ago period. EPS rose to 1.66 yuan from 1.55 yuan.
Net interest income grew year over year to 49.90 billion yuan from 45.60 billion yuan, and net fee and commission income increased to 23.55 billion yuan from 20.12 billion yuan.
Operating income rose to 89.91 billion yuan from 73.39 billion yuan, while operating profit came to 39.83 billion yuan, compared with 38.10 billion yuan in the prior-year period.
The company's nonperforming loan ratio stood at 1.56% as of end-June, down from 1.57% as at Dec. 31, 2018.
As of June 30, the company's capital adequacy ratio clocked in at 11.84%, down from 12.20% at Dec. 31, 2018. The lender's core Tier 1 ratio for the period was 8.99%, down from 9.30% at Dec. 31, 2018, while its Tier 1 ratio rose to 10.09% from 9.85% over the same period.
As of Aug. 27, US$1 was equivalent to 7.16 Chinese yuan.
