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Shenzhen Development Bank reports strong results.

Global Banking News-21 August 2008-Shenzhen Development Bank reports strong results(C)2008 ENPublishing -

Global Banking News - 21 August 2008(c)2005 - Electronic News Publishing -

Shenzhen Development Bank Company (SZSE: 000001) has reported that its net profit for the first half increased by 91 percent to CNY2.14bn (USD312m), or CNY0.93 a share, from CNY1.12bn, or CNY0.54 per share a year ago.

Net interest income increased by 43 percent to CNY5.79bn while fees and commissions increased by 81 percent to CNY3.8m. Non-performing loans accounted for 4.64 percent of outstanding loans, from 5.64 percent at the end of 2007.

The Shenzhen-based bank, which is controlled by US buyout firm TPG Inc, is still awaiting regulatory approval to sell CNY4.2bn worth of shares to Baosteel Group.

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Publication:Global Banking News (GBN)
Date:Aug 21, 2008
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