Postal Savings Bank of China net profit up 8.39 pct in Q1

Source: Xinhua | 2020-05-04

The Postal Savings Bank of China, one of China's state-owned banks, witnessed net profit growth in the first quarter of 2020.

The company raked in 20.11 billion yuan (about 2.85 billion U.S. dollars) in net profits, up 8.39 percent year on year, according to a report from the bank's website.

The total assets of the bank stood at 10.8 trillion yuan at the end of March, and its total liabilities hit 10.15 trillion yuan.

At the end of March, the non-performing loan ratio was 0.86 percent, according to the report.

The bank has provided targeted financial services to support the resumption of work and production. The consumption loans issued by the bank in the first quarter reached 240 billion yuan, up 55 percent year on year, said the bank.

The agriculture-related outstanding loans of the bank stood at 1.31 trillion yuan at the end of March, up 45.2 billion yuan from the end of 2019.