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ICBC earns RMB 208.27-bln net profit in 2011

Mar. 30, 2012 (China Knowledge) - Industrial and Commercial Bank of China or ICBC<601398><1398>, the world's biggest lender by market value, announced yesterday that its net profit grew 26.1% year on year to RMB 208.27 billion last year.

Basic earnings per share were RMB 0.6 in 2011, up 25% year on year. The bank proposed a dividend of RMB 2.03 per ten shares or RMB 70.86 billion in total.

The bank's operating revenue increased 23.6% year on year to RMB 470.60 billion last year. Net interest income grew 19.4% year on year to RMB 362.76 billion, and non-interest income surged 40% to RMB 107.84 billion in the period, accounting for 22.9% of the lender's total revenue.

Net interest margin increased by 17 basis points to 2.61% in 2011.

At the end of 2011, the bank's capital adequacy ratio had risen 0.9 percentage points from a year earlier to 13.17%, and its core capital adequacy ratio had grown 0.1 percentage points to10.07%.

ICBC's total assets had increased 14.99% year on year to RMB 15.48 trillion at the end of last year. The balance of customer deposits had risen 10% year on year to RMB 12.26 trillion and that of customer loans and advances had grown 14.7% from a year earlier to RMB 7.79 trillion at the end of 2011.

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