Municipal lender Bank of Ningbo saw surging profit growth in 2021, as well as a robust increase in the size of its balance sheet.
Bank of Ningbo saw operating revenues of 52.774 billion yuan in 2021, for year-on-year (YoY) growth of 28.37%, according to the lender’s annual report released on 7 April.
Net profits attributable to shareholders totalled 19.546 billion yuan, for a YoY rise of 29.87%.
The municipal lender also saw growth in its total assets of 23.90% in 2021, breaching the two trillion yuan threshold to reach 2.015607 trillion yuan by the year’s end.
Deposits totalled 1.052887 trillion yuan as of the end of 2021, for YoY growth of 13.80%, while loans totalled 862.709 billion yuan, for YoY growth of 25.45%.
The bank’s total enterprise clients were around 490,000, for an increase of approximately 29,000 in 2021.