Industrial Bank's profit up 18.7% in 2013

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FUZHOU -- Industrial Bank, one of China's second-tier shareholding commercial banks, reaped 41.21 billion yuan ($6.7 billion) in net profit in 2013, up 18.7 percent year on year, according to its annual report released on Tuesday.

The bank posted 109.29 billion yuan in revenues in 2013, up 24.73 percent year on year, according to the report.

Increasing service charges and commissions contributed to rising revenues, it said.

The balance of its non-performing loans stood at 10.33 billion yuan by the end of 2013, accounting for 0.76 percent of the total, according to the report.

Industrial Bank, headquartered in Fuzhou City of east China's Fujian province, was established in 1988 and listed on the Shanghai Stock Exchange in 2007.

Hang Seng Bank Limited and Tetrad Ventures Pte Ltd were among its top 10 shareholders by March 2012, according to the Industrial Bank's website.