Hua Xia Bank profits up over 20 pct

Hua Xia Bank,a medium-sized Chinese commercial lender, announced net profits were up 21.23 percent year on year in the first three quarters.

The net profits totalled 11.13 billion yuan (1.8 billion U.S. dollars) in the first three quarters, according to the company's quarterly report filed with the Shanghai Stock Exchange on Wednesday.

The lender's business revenue topped 33.4 billion yuan in the January-September period, up 13.6 percent year on year.

Net interest income was 28.8 billion yuan in the first three quarters, up 10.8 percent year on year.

The bank's total assets hit 1.6 trillion yuan at the end of September, up 4.2 percent from the beginning of the year.

The bank's non-performing loan ratio stood at 0.92 percent at the end of September, up 0.04 percentage points from the beginning of the year, while its non-performing outstanding loans rose to 7.32 billion yuan, up 977 million yuan from the beginning of the year.