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China's listed banks report 33 pct rise in net profits last year

Source:   Time:

BEIJING, June 8 (Xinhua) -- The consultancy firm Ernst & Young said on Wednesday that net profits of China's 17 listed banks rose 33 percent year-on-year to 687.3 billion yuan (104.35 billion U.S. dollars) last year.

Total assets of the listed lenders jumped 18.2 percent from one year earlier to 64.1 trillion yuan at the end of 2010, the consultancy said in a report.

Their non-performing loan ratios fell to 1.14 percent at the end of 2010 from 1.58 percent at the end of 2009.

The listed lenders would focus on differentiated development in the future to prevent homogeneous services amid increasingly fierce competition, said Ringo Choi, a regional managing partner of the consultancy.

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