Chinese banks profit up 30.6% in 2008

    BEIJING, Feb. 26 (Xinhua) — China’s banking industry reported 583.4 billion yuan (85.79 billion U.S. dollars) of after-tax profit in 2008, up 30.6 percent, said China Banking Regulatory Commission (CBRC) Thursday.

    CBRC chairman Liu Mingkang released the figure at a press conference on Chinese banks’ measures against the financial crisis.

    According to a report on CBRC website, the after-tax profit for2007 stood at 446.7 billion yuan, while the pre-tax profit for 2006 was 337.9 billion yuan.

    ”The impact on China’a banking system is limited and the risks are under control,” said Liu.

Tags: Beijing, CBRC, China, Liu Mingkang

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