China's 114 urban commercial banks garnered 13.6 billion yuan (1.8 billion U.S. dollars) in combined profits last year, with their capital adequacy ratio averaging at 8.48 percent and non-performing loan ratio at 4.8 percent.

According to China Banking Regulatory Commission, the smaller lenders recorded 2.57 trillion yuan (333.8 billion U.S. dollars) in combined assets at the end of 2006, a growth of 364 percent from the 1999 year-end level. The total included 1.37 trillion yuan (177.9 billion U.S. dollars) in loans outstanding, up 408 percent.

The banks' combined liabilities amounted to 2.45 trillion yuan (318.2 billion U.S. dollars), up 362 percent. The total included 2.18 trillion yuan (283.1 billion U.S. dollars) in deposits outstanding, up 386 percent.

CBRC sources said nine urban commercial banks have ushered in overseas strategic investors and five, including Bank of Beijing and Bank of Shanghai, have started financial derivatives business.

Source: Xinhua