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China SPD bank profit up 25 pct in 2012

china-flag 400SHANGHAI: Profits at China's Shanghai Pudong Development Bank rose 25 percent year-on-year in 2012 to 34.16 billion yuan ($5.48 billion), according to a preliminary financial report published on the Shanghai Stock Exchange website late on Friday.


The rate of increase over the previous year was slower than the 42 percent it recorded in 2011 as a result of economic headwinds, official news agency Xinhua said on Saturday.


Earnings per share rose 25 percent to 1.831 yuan per share while its non-performing loan ratio increased to 0.58 percent, up 0.14 percentage points against the end of 2011.


Shares in the bank closed at 10.02 yuan at the end of trading on Friday. They have risen more than 40 percent since hitting a year low of 7.1 yuan at the end of September.

Copyright Reuters, 2013


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
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