File photo: CGTN

BEIJING, May 2 (Xinhua) -- The Industrial Bank Co., Ltd. saw its net profit rise 15.62 percent year on year to 27.58 billion yuan (about 4.17 billion U.S. dollars) in January-March period, the company said in its first-quarter result report.

In the first three months, the operating revenue amounted to 59.4 billion yuan, up 6.72 percent year on year, according to the bank.

Its total assets reached 8.82 trillion yuan by the end of March, an increase of 2.55 percent from the beginning of this year.

While maintaining stable growth in business, the bank also reported sound asset quality, with its non-performing loan ratio standing at 1.1 percent by the close of the first quarter, unchanged from the start of 2022.