Huaxia Bank H1 profit up 20.14 pct

Net profit at Huaxia Bank, Deutsche Bank's Chinese partner, went up 20.14 percent year on year to reach 7.3 billion yuan (1.2 billion U.S. dollars) in the first half of the year.

The jump was attributed to a steady increase in deposits and loans, effective cost control and rising non-interest revenues, the bank said in a statement filed to the Shanghai Stock Exchange Thursday.

The Beijing-based mid-sized lender said its total assets hit 1.51 trillion yuan at the end of June, up 1.23 percent from the beginning of the year.

The bank's asset profit ratio stood at 0.49 percent, up 0.04 percentage point year on year, according to the bank.

The bank had over 150 billion yuan in outstanding loans issued to small enterprises at the end of June, it said.

Huaxia Bank started operating in Beijing in October 1992, and went public in September 2003 as the fifth Chinese bank listed on the Shanghai Stock Exchange.