PetroChina net earns 65.2 billion yuan ICBC profit 85 billion yuan

Washington (reporter Li Longjun) A-share market capitalisation of the top two--PetroChina and ICBC last night announced the 2010 interim results, PetroChina net earned 65.2 billion yuan in the first half, and ICBC earned a net profit of 85 billion yuan, still the world's most profitable bank.　　PetroChina semi-annual report data show that the first half of the company to achieve business income of 684.797 billion yuan, an increase of 64.9%, net profit of 65.211 billion yuan, the year-on-year growth of 29.6%; earnings per share of 0.36 yuan, a year-on-year increase of 33.3%. PetroChina said that the first half of the year, the company vigorously implement the energy, market and internationalization of the three major strategies, and actively promote the strategic layout adjustment, speed up the transformation of development mode, strengthen the overall balance of production and marketing, the orderly promotion of key projects and strategic project construction, production and management situation as a whole stable For the second half of the year, PetroChina said the world economy is expected to continue to recover, China's economic recovery to the good trend is more obvious, the domestic economy is expected to continue to maintain a relatively fast growth, the market demand for petroleum and petrochemical products is expected to increase correspondingly.　　But under the influence of international oil price and domestic policy, the operating environment also faces many uncertain factors. ICBC reported that, in accordance with international Financial reporting standards, the first half to achieve after-tax profit of 85 billion yuan, an increase of 27.3%, earnings per share rose to 0.25 yuan. ICBC's first-half performance made it the world's most profitable bank. At the same time, ICBC's asset quality has withstood the test of economic fluctuations, the first half of non-performing loan balance and non-performing rate for the 11th consecutive year to achieve "double drop." By the end of June 2010, non-performing loans had fallen to 1.26% per cent, down 0.28% from the end of 2009.　　At the same time, the provision coverage rate rose to 189.81%, compared to the end of 2009 by 25.4%, the cash reserve balance is close to 1.9 times times the total non-performing loan balance, while enhancing the risk-resisting ability, it provides a solid financial basis for future business development. The risk of local government financing platform loans and real estate loans has recently been widely concerned by the market. ICBC semi-annual report shows that in real estate loans, ICBC insists on supporting housing development projects and residents ' own financing needs, mortgage loans for the first suite accounted for 94% of the personal mortgage loans, as at the end of June, real estate development loans and personal mortgage loan non-performing rate control at 0.8% and 0.44% of the lower level. In the local government financing platform loans, most of ICBC's loans to the provincial and municipal financing platform and quality urban infrastructure construction projects, loans overall situation is good, the current non-performing rate of 0.02%.