BEIJING - China Citic Bank Co Ltd said on Friday that its net profit in 2011 surged 43.28 percent year-on-year to reach 30.82 billion yuan ($4.9 billion) due to higher net income margins and fee income.

Net interest income, or revenue from borrowers minus interest paid to depositors, increased 35.26 percent from the previous year to 65.11 billion yuan in 2011, according to the annual report the bank filed with the Shanghai Stock Exchange.

Commissions and income from services fees, another major contributor to the bank's profit growth, soared 55.2 percent year-on-year to 11.84 billion yuan.

The capital adequacy ratio of the bank stood at 12.27 percent at the end of last year, compared with 11.31 percent in 2010.

Non-performing loans outstanding rose slightly by 0.09 percent to 8.54 billion yuan at the end of 2011, with the non-performing loan ratio dipping 0.07 percentage points from previous year to 10.6 percent.

China Citic Bank's net profit last year was compared to 208.4 billion yuan for Industrial and Commercial Bank of China and 169.4 billion yuan for China Construction Bank, 130.32 billion yuan for Bank of China, as well as 50.74 billion yuan for Bank of Communications and 36.13 billion yuan for China Merchants Bank.