Shenzhen Development Bank's 2010 profit jump 35%
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Established in 1987, Shenzhen Development Bank is now one of the largest commercial banks in China. |
Shenzhen Development Bank (SDB), one of China's largest city commercial banks, posted a net profit on Thursday of 6.28 billion yuan in 2010, rising 25 percent year-on-year, the China Business News reported.
The Shenzhen-based bank is the first publicly listed bank to release its 2010 earnings results. The bank's earnings per share went up 18 percent from last year to 1.91 yuan. Net interest income for the bank was 15.83 billion yuan, up 22 percent year-on-year. Its net interest margin was slightly up in 2010 and stood at 2.49 percent.
In 2010, the SDB achieved fee and commission income of 1.59 billion yuan, up 34 percent compared to a year ago. The proportion of fee income in total revenue rose by 1 basis point to 8.8 percent.
The bank's total assets rose 24 percent in 2010, with its total deposits and loans up 24 percent and 13 percent, respectively.
SDB's non-performing loan ratio was down 0.1 basis points to 0.58 percent by the end of last year. Its capital adequacy ratio (CAR) and core CAR were 10.19 percent and 7.1 percent.
Shares of SDB declined by 0.13 percent and closed at 15.56 yuan Thursday.
China's business press carried the story above on Friday. China.org.cn has not checked the stories and does not vouch for their accuracy.
