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Industrial Bank posts 6.62% YOY increase in FY'15 net profit

IndustrialBank Co. Ltd. on Jan. 15 reported a 6.62% year-over-year increasein net profit for the full year ended Dec. 31, 2015.

The bank's full-year net profit attributable to shareholderstotaled 50.26 billion yuan, or 2.64 yuan per basic share, up from 47.14 billionyuan, or 2.47 yuan per basic share, in the prior-year period.

Operating profits increased to 62.87 billion yuan for theperiod from 60.19 billion yuan in the prior-year period. Operating income for2015 rose 23.70% year over year to 154.50 billion yuan from 124.90 billion yuan.

The bank's nonperforming loan ratio was 1.46% for 2015, upfrom 1.10% from the end of 2014.

The company's consolidated core Tier 1 capital adequacyratio was 8.45% at Sept. 30, remaining steady from Dec. 31, 2014, while itscapital adequacy ratio for the period was 11.20%, down from 11.29% at the endof 2014.

As of Jan. 15, US$1was equivalent to 6.58 Chinese yuan.