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Huishang Bank(03698) sees '17 profit to rise >11%
13 Feb 2018
(Infocast News) Huishang Bank(03698) announced that, based on the preliminary assessment made in the consolidated management accounts of the Group for the year ended December 31, 2017 which have not been audited or
reviewed, the Group estimates that, as at December 31, 2017, the net profit of the Group will be approximately RMB7.8 billion, representing a year-on-year increase of approximately over 11%; the cost-to-income ratio of the Group will be approximately 25.9%, representing a year-on-year decrease of over one percentage point; the total assets of the Group will grow by approximately
over 20% as compared with the year of 2016.

The Board considers that the increase in the Group’s net profit was mainly attributable to (1) the increase in interest-earning assets and the stable capital support from the increase in assets by taking customer deposits; and (2) the further decrease in the cost-to-income ratio in light of the effective cost control due to rational business allocation and expense management.

(SY)
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