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Huishang Bank expects 13% YOY increase in FY'19 net profit

Huishang Bank Corp. Ltd. expects its net profit for the year ended Dec. 31, 2019, to increase about 13% year over year to 10 billion yuan.

The bank said Jan. 21 that the expected increase in net profit is primarily attributable to the increase in interest-earning assets to drive the increase in its operating income, as well as the continuously strengthening comprehensive risk management.

The bank expects to release its full-year 2019 results before the end of March.

As of Jan. 21, US$1 was equivalent to 6.91 Chinese yuan.