Huaxia B Rotational mould ank Q1 profit down 14.54%
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Huaxia Bank Q1 profit down 14.54%Published: 03 May 2009 18:06:51 PST posted RMB 702 million of net profit attributable to shareholders in the first quarter of this year, down 14.54% year on year, according to the quarterly financial report it released on Thursday.
Its earnings per share plunged 30% from a year earlier to RMB 0.14.
By the end of March, the bank';s total assets had reached RMB 757.73 billion, up 3.57% from the end of last year.
In the first three months, the lender';s income from fees and commissions surged 33.38% year on year to RMB 323 million, mainly driven by an increase in intermediary business, said the bank.
In the same period, Huxia Bank recorded RMB 807 million in asset impairment losses, and RMB 119 million in losses from fair value changes.
The lender earlier reported a 46.15% year-on-year increase in net profit in 2008, which hit RMB 3.07 billion.
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