Bank's net profit up 25%
By Lilith Hu |
March 14, 2013, Thursday
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Print Edition
Print Edition
SHANGHAI Pudong Development Bank yesterday reported a 25 percent jump in net earnings last year against smaller net interest margin, due to rising intermediary business income and effective cost control.
The Shanghai-listed lender reported a net profit of 34.2 billion yuan (US$5.5 billion) in 2012, up from 27.3 billion yuan a year earlier.
Income structure slightly improved due to a lower contribution from net interest income at 88 percent, compared with 90 percent in 2011. Net interest margin slipped 0.03 percentage point to 2.39 percent. Bad loan ratio was 0.58 percent, up from 0.44 percent in 2011, but was below the industry average of 0.95 percent.
The Shanghai-listed lender reported a net profit of 34.2 billion yuan (US$5.5 billion) in 2012, up from 27.3 billion yuan a year earlier.
Income structure slightly improved due to a lower contribution from net interest income at 88 percent, compared with 90 percent in 2011. Net interest margin slipped 0.03 percentage point to 2.39 percent. Bad loan ratio was 0.58 percent, up from 0.44 percent in 2011, but was below the industry average of 0.95 percent.
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