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Bank of Communications' Q1 profit up 19.58%

May. 2, 2012 (China Knowledge) – Bank of Communications<601328><3328>, the mainland's fifth-largest lender by market value, said its net profit grew 19.58% year on year to RMB 15.88 billion in the first quarter of this year.

According to a statement filed with Shanghai Stock Exchange, the lender saw its operation revenue increased 20.75% than a year earlier to RMB 36.52 billion in the three-month period.

Basic earnings per share were RMB 0.26, RMB 0.05 more than it realized in the same period of last year.

At the first three month of this year, Bank of Communications realized RMB 28.37 billion in net interest income, up 19.52% year on year, and its revenue from bank charges and brokerage rose 21.89% than a year earlier to RMB 6.04 billion.

As of the end of March, the lender's core capital adequacy ratio increased 0.12 percentage points from the end of last year to 9.39%, however its capital adequacy ratio decreased 0.02 percentage points to 12.42%.

Last year, Bank of Communications booked a net profit of RMB 50.74 billion, reflecting a year-on-year increase of 29.95%, driven by higher net interest margin and an increase in non-interest income, China Knowledge reported earlier.






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