- CNTV English - CCTV News

Homepage > News > Biz >

SPD Bank reports 42 pct increase in 2011 preliminary profit

01-05-2012 16:41 BJT

BEIJING, Jan. 5 (Xinhua) -- Shanghai Pudong Development Bank said Thursday its 2011 preliminary net profit rose 42.02 percent year-on-year to 27.24 billion yuan (4.32 billion U.S. dollars).

Revenues for the Shanghai-based lender jumped 35.38 percent from one year earlier to 67.5 billion yuan. Earnings per share increased to 1.46 yuan, according a statement filed to the Shanghai Stock Exchange (SSE).

The bank's preliminary net profit beat market expectations, as the United Bank of Switzerland previously estimated the lender's profit at 25.39 billion yuan.

Total assets rose to 2.69 trillion yuan at the end of 2011, up 22.77 percent from the end of 2010, while the non-performing loan ratio fell 0.07 percentage points to 0.44 percent, the statement said.

The bank established 86 new outlets in 2011, bringing its total number of outlets to 741, while the number of branches hit 37.

In a separate statement filed Thursday to the SSE, the lender said it has received approval from the China Banking Regulatory Commission and the People's Bank of China to issue up to 30 billion yuan worth of bonds, which will be used for loans to small firms.

To boost the development of small enterprises, China has pledged stronger financial support for them, including allowing banks to issue special bonds for lending to small businesses.

In December, China Minsheng Banking Corp. obtained approval from the country's regulators to issue 50 billion yuan worth of the financial bonds.


Editor:Bai Yang |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program