Apr. 24, 2012 (China Knowledge) - Bank of Beijing Co Ltd <601169
>, China's largest city lender by assets, announced yesterday that its net profit surged 31.51% year on year to RMB 8.95 billion last year.
The lender's gross profit reached RMB 11.40 billion last year, 32.51% more than in the previous year.
At the end of 2011, the lender's capital adequacy ratio was 12.06% and its core capital adequacy ratio was 9.59%.
Bank of Beijing
also said that its net profit in the first quarter of this year jumped 33.79% year on year to RMB 3.37 billion.
At the end of the first quarter, the bank's total assets had increased 4.68% from the beginning of this year to RMB 1 trillion.
The lender completed an RMB 11.8-billion private placement in the first quarter, which boosted its capital adequacy ratio and core capital adequacy ratio to 13.83% and 11.54% at the end of March, respectively.