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Eximbank net profit up 23%

(Xinhua)
Updated: 2007-04-27 16:46

The Import and ExportBank of China(Eximbank), one of China's key policy banks, reported net profits up 23 percent to 885 billion yuan (115 billion U.S. dollars) in 2006, company sources said on Friday.

The bank's non-performing loan ratio stood at 3.47 percent last year, down from the year-earlier level of 4.91 percent, the sources added.

In 2006 Eximbank extended 103 billion yuan (13.5 billion U.S. dollars) in buyer's credit for export, a growth of 25 percentyear-on-year, and 7.3 billion yuan (948.1 million U.S. dollars) in import credits. Most of the money was used to support the import and export of machinery, electronics and new- and high-tech products.

At the end of 2006, the bank had 403 billion yuan (52.3 billion U.S. dollars) in gross assets, up almost 15 percent.