China Citic Bank Co. announced on Friday that its net profits for 2012 climbed slightly, weighed down by its higher provision coverage ratio in a bid to fend off risks. The company\'s net profits increased 0.69 percent year on year to reach 31.03 billion yuan (4.95 billion U.S. dollars), according to the annual report the bank filed with the Shanghai Stock Exchange. The growth rate is markedly lower than the 43.28-percent increase in net profits in 2011. The provision coverage ratio, the percentage of the loan amount that a bank has set aside to defend against risks, was raised to 288.25 percent, 15.94 percentage points higher than that of the last year. The company\'s business income rose 16.23 percent from the previous year to 89.44 billion yuan in 2012. Net interest income, or revenue from borrowers minus interest paid to depositors, increased 15.94 percent from the previous year to 75.49 billion yuan in 2012. Commissions and income from services fees, another major contributor to the bank\'s profit growth, climbed 17.79 percent year on year to 13.95 billion yuan. The capital adequacy ratio of the bank stood at 13.44 percent at the end of last year, up 1.17 percentage points year on year. Non-performing loans outstanding rose to 12.26 billion yuan at the end of 2012, with the non-performing loan ratio up 0.14 percentage points to 0.74 percent.