Industrial Bank Reaps 13.28 bln Yuan Net Profit in 2009

SHENZHEN, Jan. 8  -- The Industrial Bank, China's tenth largest lender, posted a net profit of 13.28 billion yuan (1.94 billion U.S. dollars) in 2009, up 16.62 percent year on year, said the bank in an annual report released Thursday.

Business revenue in last year grew 6.63 percent to stand at 31.68 billion yuan. Earnings per share amounted to 2.66 yuan, surging 16.62 percent from a year ago, according to the report.

The report did not provide details on the reasons of the profit growth.

Boosted by the strong performance, share price of the bank added 0.48 percent to end at 37.97 yuan on the Shanghai Stock Exchange Thursday, against a widespread losses in the banking stocks.

As of the end of the third quarter last year, the capital adequacy ratio of the Industrial Bank reached 10.63 percent, well above the international safety standard of 8 percent.