CORRECTED - CORRECTED-TABLE-China's Industrial Bank Q1 net surges 119 pct

(Corrects headline to show the company's first-quarter net
profit, not first-half profit rises)

April 25 (Reuters) - Quarter ended March 31, 2008.

(in millions of yuan unless stated, against 2007 figures):

Q1 2008 Q1 2007

Turnover 7,338.78 vs 4,646.63

Net profit 3,087.79 vs 1,408.32

Earnings per share (yuan) 0.62 vs 0.30

Net assets per share (yuan) 8.40 vs N/A

Company: China's Industrial Bank (601166.SS: Quote, Profile, Research, Stock Buzz), 12.78 percent
owned by Hong Kong-based Hang Seng Bank (0011.HK: Quote, Profile, Research, Stock Buzz), is based in
the southeastern province of Fujian.

Note: The unaudited results were compiled under domestic
accounting standards.

The bank said its earnings rose in the first quarter as its
commission and fee income soared to 618 million yuan ($88.47
million) from 211 million yuan in the year-earlier period, and
net interest income rose to 6.4 billion yuan from 4.32 billion
yuan.

The bank's annual net profits more than doubled last year,
and it forecast last month its earnings would rise at least
another 20 percent in 2008.

The bank aims to expand its outstanding loans by 19 percent
to 476 billion yuan by the end of 2008 and its deposits by 20
percent to 607 billion yuan, it said.

The bank's capital adequacy ratio stood at 11.73 percent at
the end of 2007, up sharply from 8.71 percent a year earlier
and above the minimum regulatory requirement of 8 percent.

Its nonperforming loan ratio declined to 1.15 percent at
the end of last year from 1.53 percent a year earlier, compared
with the limit of 5 percent by regulatory requirements.
($1=6.985 Yuan)
(Reporting by Charlie Zhu; Editing by Jeffrey Benkoe and Edmund
Klamann)