Local banking assets soaring
14/1/2004 16:47
Domestic and foreign financial institutes in Shanghai had reported
total assets of 2.25 trillion yuan (US$0.27 trillion) by the end of last year,
accounting for nearly 10 percent of the total assets in domestic banking
industry, up 19.97 percent from a year before, eastday.com reported
today.
According to the local branch of the People's Bank of China and China
Banking Regulatory Commission, local banking institutes registered outstanding
deposits of 1.731838 trillion yuan by the end of December last year, an increase
of 23.77 percent from the beginning of last year, and outstanding loans of
1.3176.26 trillion yuan, up 24.47 percent from early last year.
The banking
institutes in Shanghai reported before-tax profits of 18.424 billion yuan by the
end of December last year, up 26.35 percent from the previous
year.
Wendy Zhang/ Shanghai Daily news
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