Bank of Ningbo posts 23.5 percent rise in total assets

Credit: Imaginechina

The Bank of Ningbo said it maintained high-quality growth in 2020, with  total assets rising around 23.5 percent to hit 1.62 trillion yuan.

According to its preliminary earnings report, at the end of 2020, the total assets of the company came to 1.62 trillion yuan (US$250 billion), an increase of 23.45 percent over the beginning of the year.

Its deposits and loans grew respectively 19.9 and 29.9 percent to reach 925.1 billion yuan and 687.7 billion yuan. And the company's operating income was 41.1 billion yuan, an increase of 17.1 percent year on year.

In 2020, the net profit attributable to shareholders of the company was 15 billion yuan, an increase of 9.73 percent over the same period of last year, with the weighted average return on equity standing at 14.9 percent .

While achieving fast growth, Bank of Ningbo said it also managed to keep asset quality good. The non-performing loan ratio was 0.79 percent, with a provision coverage ratio of 505.4 percent.