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Chinese listed brokers net profit up 34% in first nine months

(Xinhua)
Updated: 2009-10-31 13:34

Combined net profit of the ten Chinese listed brokerages grew by 34.05 percent to 16.2 billion yuan ($2.4 billion) in the first nine months of this year.

Assets of the ten companies totaled 457.84 billion yuan by the end of September, up 43.97 percent compared with last year-end, said a report by the Shanghai Securities News on Saturday.

Related readings:  CMB net profit falls 16.3% in Q3  ICBC reports 19% rise in Q3 net profit  Sinopec net profit surges in Jan-Sept  PetroChina's Q3 net profit down 23.2%

China's upbeat stock market brings more commission income to brokers this year. Broking business income of those ten companies rose 50.18 percent year-on-year to 22.48 billion yuan in the first nine months.

Self-operated business profit of the ten companies stood at 4.76 billion yuan in the first three quarters, up 23.04 percent.

The third quarter net profit jumped by 145 percent to 5.79 billion yuan, partly due to the lift of a ten-month suspension of initial public offerings in June, said the report.

Chinese stock market has rebounded from the lowest 1664 points in October 2008 to more than 3000 points this year.