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Chinese banks post record RMB 1.04 trln profit in 2011

Feb. 20, 2012 (China Knowledge) - Chinese banks' combined net profit reached a record high of RMB 1.04 trillion or around HK$1.28 trillion in 2011, reflecting an increase of 15.8% from 2010, sources reported.

The net profit growth was 34.5% in 2010 and 14.6% in 2009.

Statistics from China Banking Regulatory Commission showed that banking institutions had RMB 113.29 trillion in total assets at the end of last year, up 18.9% year on year from RMB 95.31 trillion. Total liabilities were RMB 106.08 trillion as of Dec. 31, 2011, 18.6% more than RMB 89.47 trillion at the end of 2010.

Of the total assets, 47.3% or RMB 53.63 trillion was contributed by Chinese large commercial banks, while 16.2% or RMB 18.38 trillion by joint-stock banks, 8.8% or RMB 9.98 trillion by city banks and RMB 27.6% or RMB 31.29 trillion by other financial institutions.

Total liabilities of Chinese large commercial banks were RMB 50.26 trillion at the end of last year, while joint-stock banks RMB 17.3 trillion, city banks RMB 9.32 trillion and other financing institutions RMB 29.2 trillion.

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