China CITIC bank profit growth slows in 2015

BEIJING - China CITIC Bank, one of China's leading banks, said Wednesday that its net profits rose 1.15 percent year on year to 41.16 billion yuan ($6.33 billion) in 2015.

The growth marked a slowdown from a 5-percent gain in 2014, and the 26-percent increase in 2013.

Business revenue came in at 145.13 billion yuan, up 16.37 percent year on year, according to the bank's report filed with the Shanghai Stock Exchange.

Net interest incomes rose 10.23 percent from one year earlier to 104.4 billion yuan, accounting for 72 percent of business revenue, according to the statement.

The lender's non-performing loan ratio was 1.43 percent at the end of December, up 0.13 percentage points from that at the end of 2014. Its outstanding non-performing loans stood at 36 billion yuan.

Profit growth at China's major banks has been weak as the economy enters a period of slower growth.

The Chinese economy expanded 6.9 percent last year, a 25-year low.