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China Zheshang Bank Posts Flat Q1 Profit, Net Interest Income Slips 1%

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-- China Zheshang Bank (HKG:2016, SHA:601916) posted net profit attributable to shareholders of 5.99 billion yuan in the first quarter, up 0.7% from 5.95 billion yuan a year earlier.

Earnings per share was flat at 0.22 yuan, according to a Shanghai Stock Exchange filing on Thursday.

Net interest income slipped 1.3% to 11.8 billion yuan from 12 billion yuan, with net interest margin shrinking to 1.6% from 1.76% a year prior.

Operating income edged up 0.4% to 17.2 billion yuan from 17.1 billion yuan.

The balance of the bank's non-performing loans, or bad loans, stood at 27.3 billion yuan, up 4.7%, while the ratio of bad loans was flat at 1.36%.

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