- In an earnings report to the Shanghai Stock Exchange, Shanghai Pudong Development Bank (600000.SS) has posted a 3.88% increase in net profit for the first quarter of 2017 to RMB 14.46 billion.
- The company recorded a 0.4% decrease in revenue to RMB 42.36 billion.
- EPS for the first quarter was RMB 0.63 per share.
Why It Matters:
- The bank’s operating profit totaled RMB 18.397 billion for the first quarter of 2017, down 0.2% from RMB 18.433 billion for the first quarter of 2016. Non-operating revenue was RMB 642 million for the first quarter of 2017.
- By the end of March, the company’s total assets had reached RMB 5.89 trillion, up about 0.55% compared with the end of 2016. Total savings had increased by 3.2% to RMB 3.1 trillion and total loans had increased 6% to RMB 2.93 trillion on the same comparison basis.
- Non-performing loans (NPLs) ratio had reached 1.92% by the end of March, up 0.03 percentage points compared with the end of 2016; the capital adequacy ratio was 11.5%, up 0.13 percentage points; and the core tier-one capital ratio was 8.45%, up 0.22 percentage points.