China's Industrial Bank 2008 profit rises 32 pct
SHANGHAI, Jan 19 (Reuters) - China's Industrial Bank (601166.SS), a medium-sized bank based in Fujian province, said on Monday its net profit jumped 32.34 percent in 2008 to 11.36 billion yuan ($1.66 billion).
Revenues for 2008 climbed 35.3 percent to 29.85 billion yuan, Industrial Bank said in a preliminary report on its 2008 earnings. Earnings per share rose to 2.27 yuan from 1.75 yuan, while net assets per share rose to 9.80 yuan from 7.78 yuan.
It gave no further details about its results. A full report will be made in coming weeks.
The full-year profit growth figure compares with a 126 percent rise the previous year and 80 percent growth for the first half.
Profit growth slowed sharply at Chinese banks in the second half of last year with an economic slowdown, a fall in interest rates and a rise in loan defaults. ($1=6.836 Yuan) (Reporting by Edmund Klamann; Editing by Valerie Lee )
