Money

Listed banks' net profits rise 33% in 2010

(Xinhua)
Updated: 2011-06-09 09:43

BEIJING -- The consultancy firm Ernst & Young said on Wednesday that net profits of China's 17 listed banks rose 33 percent year-on-year to 687.3 billion yuan ($104.35 billion) last year.

Related readings:  Banks may see revenue drop  CCB not rule out merger with Russian banks  China banks' capital adequacy ratio falls in Q1

Total assets of the listed lenders jumped 18.2 percent from one year earlier to 64.1 trillion yuan at the end of 2010, the consultancy said in a report.

Their non-performing loan ratios fell to 1.14 percent at the end of 2010 from 1.58 percent at the end of 2009.

The listed lenders would focus on differentiated development in the future to prevent homogeneous services amid increasingly fierce competition, said Ringo Choi, a regional managing partner of the consultancy.