BEIJING - China CITIC Bank said Friday its profit rose 48.19 percent to 17.42 billion yuan ($2.6 billion) in the first three quarters from one year earlier.
The jump in net profit was due to increased loans, higher profit from non-interest businesses and cost reductions, the bank said in its business report filed with the Shanghai Stock Exchange.
Total assets of the mid-sized lender had expanded 9.72 percent to 1.95 trillion yuan by the end of September.
Also, the bank's non-performing loan ratio was 0.81 percent, down 0.14 percentage points from the end of 2009.
Shares of the bank dropped 2.06 percent to 5.71 yuan Friday in Shanghai.
