Pudong Development Bank '09 net profit up 5.6%
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Shanghai Pudong Development Bank (SPDB) saw operating revenue rise 6.55 percent to 36.82 billion yuan in 2009, according to the bank's annual report. [More 2009 earnings reports]
Net profit attributable to shareholders was 13.22 billion yuan, up 5.6 percent year-on-year.
At the end of 2009, the Shanghai-based lender's total assets were 1622.72 billion yuan, 23.93 percent up on 2008. The bank's gross liabilities stood at 1554.63 billion yuan.
SPDB's return on assets ratio fell 0.23 percent year-on-year to 0.90 percent; its return on equity ratio dropped 10.85 percent to 25.86 percent. The drop in profit capability indices resulted from lower benchmark interest rates and a shrinking net interest spread, according to the bank's annual report.
The bank's non-performing loan ratio dropped to 0.8 percent, down 0.41 percent year-on-year.
Shanghai International Group, Shanghai International Trust and Citibank are SPDB's top three shareholders, holding 21.15 percent, 6.65 percent, and 3.392 percent respectively. China Mobile will become the second biggest shareholder after a share purchase deal with SPDB completes.
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