China's SPDB Net Profit Climbs 33.92Pct in H1

»Shanghai Pudong Development Bank (SPDB) said its half year net profit rose 33.92 percent from one year earlier due to lending boom and increased commission fees.

»Net profit for the January ~ June period hit 9.08 billion yuan ($1.34 billion) and operational revenue climbed 36.42 percent to 22.75 billion yuan during the same period.

»Earnings per share were 0.791 yuan, up 20.21 percent year-on-year.

»The size the bank’s deposits and loans has been expanding and commission fees are increasing, which mainly attributed to the first-half profit surge. Other factors, including the improved asset quality and expanding net interest margin also key drivers, the bank said in a statement.