Statistics

Industrial Bank reports 41% profit rise

(China Daily)
Updated: 2010-08-26 17:31

Industrial Bank Co said on Wednesday that its first-half profit rose 41 percent on demand for loans and fee-based services.

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Net income climbed to 8.76 billion yuan ($1.29 billion), or 1.65 yuan a share, from 6.22 billion yuan, or 1.17 yuan a year earlier, the Fuzhou-based company said in a statement.

?The bank in June raised 17.86 billion yuan in a rights offer to ensure it has enough capital to meet loan demand as the economy recovers. The lender aims to expand lending by 22 percent and profit by 15.9 percent this year.