Shares of Shenzhen Development Bank lower despite net profit jump

11:28, March 12, 2010      

Email | Print | Subscribe | Comments | Forum 

Shenzhen Development Bank (SDB) opened slightly lower Friday at 23.55 yuan (3.45 U.S. dollars) a share, down 0.46 percent from the previous close, despite reporting soaring net profit in 2009.

In its annual business report to the Shenzhen Stock Exchange, SDB said its net profit for 2009 was 5.03 billion yuan, up 719.29 percent year on year. Earnings per share stood at 1.62 yuan, more than seven times the year-earlier level.

SDB, the first commercial bank in China to list on the Shenzhen bourse, attributed the rise mainly to rapid lending growth. As of 10:30 a.m., shares of ADB declined 1.69 percent from the previous close to hit 23.26 yuan.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
Major headlines
Editor's Pick
  • Elie Saab Fall/Winter 2010/11 women's ready-to-wear fashion show
  • Snapshots from Int'l Tourism Bourse in Berlin
  • High school students in Taiwan attend coming-of-age rite
  • Envy? Baby otter dossing down on mom's stomach
  • 1000th day of Israeli blockade on Gaza Strip marked
  • 20th anniversary of Lithuania's declaration of independence
Most Popular
Hot Forum Dicussion