Postal Savings Bank of China reports net profit growth in 2019

30 March, 2020 12:00 AM printer

BEIJING: Postal Savings Bank of China, one of China's state-owned banks, witnessed net profit surge in 2019.

The company raked in 61.04 billion yuan (about 8.6 billion U.S. dollars) in net profits, up 16.52 percent year on year, according to the bank's 2019 financial report.

The total assets of the bank stood at 10.22 trillion yuan at the end of 2019, and its total liabilities hit 9.67 trillion yuan, reports Xinhua.

At the end of last year, the non-performing loan ratio was 0.86 percent, said the bank.

Established in 2007, the bank got listed in Hong Kong in 2016 and on the Shanghai bourse in 2019.