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Huaxia Bank sees 54.25% surge in 2011 net profit

Mar. 27, 2012 (China Knowledge) - Huaxia Bank Co Ltd<600015>, which is partly owned by Deutsche Bank AG, has said that its net profit jumped 54.25% year on year to RMB 9.22 billion last year, driven by increases in interest income and non-interest income.

Basic earnings per share were RMB 1.48 last year, and the lender proposed a final dividend of RMB 2.5 per ten shares.

Huaxia Bank realized RMB 33.54 billion in operating income last year, up 37.03% from the previous year. Net interest income rose 33.15% year on year to RMB 30.30 billion, and net fee and commission income soared 105.94% to RMB 2.98 billion.

At the end of last year, the bank's capital adequacy ratio had risen 1.10 percentage points from a year ago to 11.68% and its core capital adequacy ratio had increased by 2.07 percentage points from a year earlier to 8.72%.

Huaxia Bank had total assets of RMB 1.24 trillion at the end of 2011, 19.6% more than a year earlier. It expected its total assets to exceed RMB 1.47 trillion this year.

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