China's SPD Bank net profit up 5.48 pct

Source: Xinhua | 2020-05-04

The Shanghai Pudong Development (SPD) Bank said its net profit in the first three months of 2020 rose 5.48 percent year on year to 17.36 billion yuan (about 2.5 billion U.S. dollars).

Its business revenue climbed 10.66 percent to 55.42 billion yuan in the period, the bank said in its latest earnings report filed to the Shanghai Stock Exchange.

By the end of March, the bank's non-performing loan ratio fell six basis points from the end of last year to 1.99 percent, while its provision coverage ratio rose 12.78 percentage points to 146.51 percent.

The Bank's total assets amounted to 7.3 trillion yuan by the end of last month, up 4.21 percent from the end of 2019.

Shares of SPD Bank closed 0.19 percent higher at 10.63 yuan Thursday.