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Chongqing Rural Commercial Bank's Q1 net profit up 28.40%

Apr. 23, 2012 (China Knowledge) - Chongqing Rural Commercial Bank Co<3618>, the first Chinese rural commercial bank listed in Hong Kong, has announced that its net profit grew 28.40% year on year to RMB 1.40 billion in the first quarter of this year.

Basic earnings per share were RMB 0.15, up from RMB 0.12 in the same period of 2011.

The bank's operating revenue jumped 38.52% year on year to RMB 3.22 billion in the first three months. Net interest income rose 29.78% from the same period of last year to RMB 3.07 billion. The lender saw a 137.40% surge in fee and commission income, which reached RMB 124 million in the quarter.

At the end of the first quarter, the bank's capital adequacy ratio was 14.28%, down 0.62 percentage points from the end of last year, and its core capital adequacy ratio had fallen 0.52 percentage points from the end of 2011 to 13.19%.

The bank said earlier that its net profit surged 38.77% year on year to RMB 4.25 billion last year.

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