February 22, 2017 / 4:33 AM / 7 months ago

China commercial banks' profits rose 3.54 pct in 2016 - regulator

BEIJING, Feb 22 (Reuters) - China’s banking regulator said on Wednesday the commercial banking sector’s net profit rose to 1.65 trillion yuan ($240 billion) last year, a 3.54 percent increase from 2015.

Chinese commercial banks’ weighted average core tier 1 capital adequacy ratio was 10.75 percent at the end of 2016, the China Banking Regulatory Commission (CBRC) said in an online statement.

The sector’s non-performing loan (NPL) ratio was at 1.74 percent at end-December, largely flat from the end of the third quarter, the CBRC said, while the volume of NPLs increased to 1.51 trillion yuan, from 1.49 trillion yuan. ($1 = 6.8790 Chinese yuan) (Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk)

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