Statistics

Shenzhen lender net profit up 719%

(China Daily/Agencies)
Updated: 2010-03-12 10:15

Special Coverage: 2009 Annual Reports of Listed Companies Related readings:  Shenzhen CEO salary top of listed banks  Ping An gets approval for Shenzhen bank purchase    Ping An to buy stake in Shenzhen Development Bank

Shenzhen Development Bank said its 2009 net profit reached 5.03 billion yuan ($736.9 million), or 1.62 yuan per share, up 719 percent from a year earlier, thanks to lower provisions for bad loans, rapid lending growth and higher fee income, the bank said in its annual report Thursday.

Its non-performing loan ratio and capital adequacy ratio stood at 0.68 percent and 8.88 percent respectively by the end of last year.

The midsize bank posted a net profit of 614 million yuan in 2008.

Its majority shareholder, the Newbridge Asia AIV III, LP, owns 16.76% of the bank.

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