CDB posts 23% earnings rise in 2011
By Hu Xiaocen |
April 26, 2012, Thursday
|
Print Edition
Print Edition
CHINA Development Bank, one of the country's three policy banks, yesterday posted a 22.9 percent rise in 2011 net profit, making it the nation's sixth-most profitable bank.
The bank said in its annual earnings report, published yesterday, that net profit rose to 45.6 billion yuan (US$7.21 billion), while its non-performing loan ratio dipped to 0.4 percent at year's end from 0.68 percent a year earlier.
CDB is China's leading international lender, with a presence in 116 economies, Chen Yuan, chairman of the lender, said in the report.
The bank is under the direct jurisdiction of the State Council, and owned by three entities - the Ministry of Finance, Central Huijin Investment Co and China's national pension fund. Its primary job is to raise funds for the country's infrastructure projects.
The bank said in its annual earnings report, published yesterday, that net profit rose to 45.6 billion yuan (US$7.21 billion), while its non-performing loan ratio dipped to 0.4 percent at year's end from 0.68 percent a year earlier.
CDB is China's leading international lender, with a presence in 116 economies, Chen Yuan, chairman of the lender, said in the report.
The bank is under the direct jurisdiction of the State Council, and owned by three entities - the Ministry of Finance, Central Huijin Investment Co and China's national pension fund. Its primary job is to raise funds for the country's infrastructure projects.
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