BEIJING, April 28 -- The Bank of Communications, a major commercial lender, said its net profit increased 1.5 percent year on year to 18.97 billion yuan (3.1 billion U.S. dollars) in the first quarter on Tuesday.
Revenues from service charges and commission fees came in at 9.88 billion yuan, rising 29.27 percent year on year, according to its business report filed with the Shanghai Stock Exchange.
As of the end of March, the bank's total assets reached 6.63 trillion yuan, up 5.73 percent from the beginning of the year, while its non-performing loans ratio settled at 1.3 percent.
Shares of the lender gained 1.71 percent to end Tuesday at 7.14 yuan per share.h Profit at China's major banks have grown at the weakest rate in years as world's second-largest economy entered the new normal period of slower growth but higher quality.
The 16 banks listed on the Shanghai and Shenzhen bourses are forecast to post a three to five percent average growth in net profits in the first quarter of this year, China Securities Journal reported Monday citing estimates by brokers.
J-11 fighters in air exercise
Beauties dancing on the rings
Attendants-to-be join Mr. & Miss Campus Contest
Beijing's toughest anti-smoking law takes effect
Family lives in cave for about 50 years in SW China
PLA soldiers operating vehicle-mounted guns in drill
Blind carpenter in E China's Jiangxi
China hosts overseas disaster relief exercise for the first time
20 pairs of twins who will become flight attendants in Sichuan
Obama is sowing discontent in S.China Sea
Rescuers work through night to reach cruise ship survivors
Driving through limbo
Facing down MERSDay|Week
