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Shanghai Pudong Dev't Bank sees profit up 30.29% in Q1

May. 2, 2012 (China Knowledge) - Shanghai Pudong Development Bank<600000> posted RMB 7.89 billion-net profit for the first quarter of this year, reflecting a year-on-year increase of 30.29%.

In a statement filed with the Shanghai Stock Exchange, the lender said its earnings per share for the first quarter were 42.3 RMB cents.

Operating revenue surged 31.01% from a year earlier to RMB 19.91 billion in the three month ended Mar. 31, 2012, principally boosted by increased loans and grew net interest income.

Net interest income stood at RMB 17.83 billion, up 30.91% year on year.

The lender had RMB 1.91 trillion in total deposits at the end of March, more than RMB 1.85 trillion at the beginning of this year, while its total loans were RMB 1.39 trillion as of Mar. 31, 2012, compared with RMB 1.33 trillion at the beginning of 2012.

The bank saw its core capital adequacy ratio reach 9.02% at the end of March, 0.18 percentage point lower than 9.20% at the end of 2011, while the lender's capital adequacy ratio was 12.48% as of Mar. 31, compared with 18.33% it realized at the beginning of this year.






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