Ping An, Huaxia banks see profits slow in Q3

It still increased.

Albeit at a slowerpace.

This is how Ping An Bank and Huaxia Bank performed in terms of net profits.

The Shenzhen-based Ping An Bank saw its net profits rise 17.6 percent year on year in the July-September period. This brings its total net profits in the first three quarters to 10.24 billion yuan or US$1.64 billion.

The profit growth eased from the 43-percent rate registered for the first half of 2012.

The bank's non-performing loan ratio was 0.8 percent by the end of September, up 0.27 percentage points compared to the level at the end of 2011, according to the statement.

Ping An attributed the higher ratio to bad loans in manufacturing and commerce.

The bank's total assets hit 1.48 trillion yuan at the end of September, up 17.4 percent from the beginning of the year, said the statement.

The net profit Beijing-based Huaxia Bank gained 36.73 percent year on year to hit 3.11 billion yuan in the third quarter, it announced.

The profit growth was milder than the 42.36 percent recorded in the first six months.

Its total assets expanded to 1.44 trillion yuan as of the end of September, up 16.26 percent from three quarters earlier.

Compared with the end of June, the bank's NPL ratio stayed flat at 0.85 percent, according to the statement.

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