Shanghai Pudong Bank forecast 150 pct profit growth in first three quarters
14/10/2008 17:13
Shanghai Pudong Development Bank, partly owned by Citigroup Inc., forecast
unaudited net profit will surge about 150 percent year-on-year in the first
three quarters of 2008.
In a statement to the Shanghai Stock Exchange today,
the mid-sized bank attributed profits to larger capital, wider interest rate
margins, greater fee income and lower corporate income tax.
Net income in the
first nine months last year was 3.923 billion yuan (US$574 million), or 0.90
yuan per share.
The bank is slated to report third quarter results on Oct.
30.
Shanghai Pudong Development Bank rose 3.92 percent to 14.06 yuan this
morning in Shanghai after the earnings forecast.
Xinhua
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