China's Bank of Communications profit up 3.5%

A branch of the Bank of Communications Ltd in Qiqihar, Heilongjiang province. [Photo provided to China Daily]

BEIJING - China's state-owned Bank of Communications announced Saturday that its net profit rose 3.5 percent in the first three quarters of the year, to 54.42 billion yuan ($8.2 billion).

Total assets rose 6.34 percent from the end of 2016, to 8.94 trillion yuan, according to its unaudited quarterly report filed with the Shanghai Stock Exchange.

The bank said its main business indicators had realized steady growth as it worked to serve the real economy, continued reform and innovation, and improved risk management.

Business revenue rose 1.64 percent year-on-year to 149.72 billion yuan in the same period.

The non-performing loans ratio stood at 1.51 percent, slightly down from 1.52 percent at the end of last year. Earnings per share were 0.7 yuan.

The bank is listed in both Shanghai and Hong Kong. Its shares rose 0.48 percent in Shanghai and 1.51 percent in Hong Kong Friday.