Industrial Bank, a Fujian-based commercial bank partly owned by HSBC Holdings, posted its 2011 annual financial results Monday, reporting a net profit of 25.5 billion yuan (US$4 billion) in 2011, up 27.7 percent year-on-year.

By the end of 2011, the bank had total assets of 2.41 trillion yuan (US$381 billion), 30.2 percent higher from the beginning of the year. The bank's outstanding net assets stood at 115.21 billion yuan (US$18.2 billion), a 25.2 percent increase in 2011.

Industrial Bank's capital adequacy ratio was 11 percent and core capital adequacy ratio was 8.2 percent.

According to the annual report, the bank's outstanding deposits and loans of both local and foreign currencies stood at 1.35 trillion yuan (US$213.7 billion) and 983.25 billion yuan (US$155.6 billion), up 18.8 percent and 15.1 percent, respectively.

The Fujian-based bank had non-performing loans of 3.72 billion yuan as of December 31, 2011.

Contact the writer of this story at: yanp@china.org.cn.

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