Monday, January 12, 2009

Chinese banks boost net by 39.5%

CHINA'S domestic banks boosted their net profit by 39.5 percent in the first 11 months of last year and have "relatively sufficient" liquidity, China Central Television said.

The nation's financial institutions earned 690.5 billion yuan (US$101 billion) from January to November, according to the report, which didn't say where it got the information. The year-earlier profit was not mentioned. The banking industry's asset quality and profitability are at record highs, it said.

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