SHANGHAI, Aug 20 (Reuters) - Six months ended June 30, 2008.
(in millions of yuan unless stated, against 2007 figures):
2008 2007
Turnover 15,016.75 vs 10,035.95
Net profit 6,543.97 vs 3,642.70
Earnings per share (yuan) 1.31 vs 0.75
Net assets per share (yuan) 8.78 vs N.A.*
Company: China's Industrial Bank (601166.SS), partly owned by
Hong Kong-based Hang Seng Bank (0011.HK), is based in
the southeastern province of Fujian.
* Net assets per share a year earlier were not provided. They
stood at 7.78 yuan as of the end of 2007.
Note: The results, unaudited and compiled under domestic
accounting standards, were published in the official Shanghai
Securities News on Wednesday.
The bank attributed rising net profit in part to the rapid
growth of its intermediary business. Income from intermediary
services jumped 204.07 percent year on year to 1.99 billion yuan
($290 million) in the first half of this year.
Net commission and fee income soared to 1.38 billion yuan
from 492 million yuan a year earlier. Returns from investment
came to 196.5 million yuan, against a loss of 32.20 million yuan
a year earlier.
The bank's capital adequacy ratio stood at 10.85 percent as
of the end of June, above the minimum regulatory requirement of 8
percent. The ratio was 11.73 percent at the end of 2007.
Outstanding loans were at 441.52 billion yuan as of the end
of June, up 10.34 percent from the beginning of the year.
Nonperforming loans by the end of June were 4.60 billion
yuan, similar with the level at the beginning of the year, while
the bad loan ratio was 1.04 percent, down 0.11 percentage points
from the beginning of the year.
($1=6.865 Yuan)
(Reporting by Fang Yan; editing by Jonathan Hopfner)
