Bank of China (BOC) has reported an after tax profit of ?145bn ($23bn), a rise on last year of 11%.
Assets at the bank have almost doubled since 2008 and now stand at ?12.7tn, up from ?11.8tn in 2011.
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Customer deposits increased by 4% to ?173bn while loans inched up to ?6.8tn from ?6.3tn in 2011.
BOC’s loan to deposit ratio increased to 72% up 3 percentage points from 2011.
Non-interest income rose by 9%, and net fee and commission income increased by 8%.
Fiscal 2012 saw the firm establish 15 new overseas institutions, with overseas pre-tax profits in 2012 coming to $5.5bn, up by 11% year-on-year.
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By GlobalDataLI Lihui, president, said: "The year 2013 will present further important strategic development opportunities for the Bank. China will focus on improving the quality and effectiveness of its economic growth, further deepen its reform and opening up, continuously enhance its capacity for innovation and strengthen macro-control."
BOC’s profits in 2012 were hit by its Hong Kong divisions’ one off impact of Lehman Brothers related products.
The chairman of BOC, Xiao Gang, resigned from his positions as the chairman of the board of directors, executive director, chairman and member of the strategic development committee of the board of directors of the bank in March 2013.
2012 marked the 100th anniversary of the founding of BOC.
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