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Shanghai Pudong Development Bank FY'16 net profit rises 4.93% YOY


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Shanghai Pudong Development Bank FY'16 net profit rises 4.93% YOY

Shanghai Pudong Development Bank Co. Ltd. posted a 4.93% year-over-year increase in net profit for full-year 2016 on a rise in fee and commission income.

Net profit attributable to shareholders for 2016 rose to 53.10 billion Chinese yuan from 50.60 billion yuan in the previous year. However, EPS declined to 2.4 yuan from 2.42 yuan.

The bank's net interest income fell to 108.12 billion yuan from 113.01 billion yuan a year ago. Operating income rose to 160.79 billion yuan from 146.55 billion yuan in 2015, primarily on a yearly rise in net fee and commission income to 40.69 billion yuan from 27.80 billion yuan.

The Chinese lender's nonperforming loan ratio rose to 1.89% from 1.56% at 2015-end.

Its core Tier 1 and Tier 1 capital ratios climbed to 8.53% and 9.30%, respectively, as of Dec. 31, 2016, from 8.23% and 9.02% as of Dec. 31, 2015. Meanwhile, its capital adequacy ratio rose to 11.65%, from 11.37% at the end of 2015.

As of March 31, US$1 was equivalent to 6.89 Chinese yuan.