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Hua Xia Bank reports 59% surge in net profit
Hua Xia Bank's net profits in 2010 hit US$907.6 million, representing an increase of 59 percent from the previous year.
The bank said in its annual business report that revenues last year went up 42.9 per cent to hit US$3.7 billion.
The Beijing-headquartered bank's total assets amounted to US$158.5 billion by the end of 2010, compared to US$128.9 billion by the end of 2009.
As of the end of 2010, the bank's total outstanding loans stood at US$80.49 billion, up 22.7 per cent compared to the same period in 2009. The company's non-performing loan ratio decreased to 1.18 per cent, down 0.32 percentage points compared to the end of 2009.
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