China Merchants Bank’s profits up 10pc

26 January, 2020 12:00 AM printer

BEIJING: China Merchants Bank, one of the largest lenders in China, posted a robust growth of 10.05 percent in its profits in 2019.

Gross profits totaled 117.21 billion yuan (about 17 billion U.S. dollars) last year, according to a statement filed to the Shanghai Stock Exchange.

Revenues stood at 269.75 billion yuan, up 8.53 percent year on year.

Non-performing loan ratio reached 1.16 percent at the end of 2019, down 0.2 percentage point from the end of 2018, reports Xinhua.

The lender's total assets jumped 9.95 percent from a year earlier to 7.42 trillion yuan at the end of last year.