Bank earnings soar

2008-10-25  |     NEWSPAPER EDITION

  EMAIL STORY

  PRINTABLE VIEW

  BLOG STORY

  COPY HEADLINE AND URL

  SHARE

SHENZHEN Development Bank, a major Chinese joint-stock commercial bank, saw profit rise 77 percent in the first nine months compared with the same period last year, according to the bank's quarterly report released yesterday. The Shenzhen-listed lender reported profit of 3.32 billion yuan (US$485.65 million) between January and September. Its earnings per share touched 1.42 yuan, and the rate of return on net assets was 30.15 percent. The report attributed the profit growth largely to increases in both loans and deposits and rapid expansion of intermediary business.

related stories

Shenzhen bank rises on possible net jump

SHENZHEN Development Bank Co, controlled by United States buyout firm TPG Inc, yesterday rose after saying profit may have risen as much as 80 percent in the first nine months on improved margins, higher fee income...

MORE

Expand to view all explore Business (33)