Industrial Bank (601166.SH)said first quarter 2011 net profit attributable to shareholders increased 28 percent year-on-year to 5.22 billion yuan, with earnings per share of 0.87 yuan, reports Shanghai Securiteis News, citing a filing by the bank.

The capital adequacy ratio and core capital adequacy ratio dropped 11.29 percent and 8.79 percent from the end of last year to 10.71 percent and 8.42 percent through the end of March.

The bank’s non-performing loan (NPL) balance was 3.55 billion yuan through the end of March, with the NPL ratio down 0.03 percentage point from the beginning of 2011 to 0.4 percent.

The provision coverage ratio rose 16.45 percentage points from the beginning of the year to 341.96 percent.