China's Hua Xia Bank, a business bank listed in Shanghai Stock Exchange in 2003, posted first quarter net profit of 822 million Yuan(117.4 million US dollars), 80.43 percent higher than the same period last year.
Earnings per share were 0.20 yuan, up 81.82 percent.
Hua Xia said that the spreads income is still the main driver of the increase of profit.
During the first quarter, the Bank earned an interest income of 8.16 billion Yuan, up 83.32 percent. However, the interest payments are also considerable, which reached 4.81 billion Yuan based on the deposit-taking business growth and the benchmark interest rate adjustments in the first three months.
The Bank's intermediate business also grew rapidly in the first quarter. Fee and commission income increased 88.1 percent to reach 242 million Yuan.