SPD Bank net profit up 11.9% in first three quarters

BEIJING - The Shanghai Pudong Development (SPD) Bank Tuesday said its net profit for the first three quarters of 2019 rose 11.9 percent year-on-year to 48.35 billion yuan ($6.85 billion).

Its business revenue climbed 15.4 percent to 146.4 billion yuan in the period, the bank said in a report filed to the Shanghai Stock Exchange.

The bank's net interest income accounted for 66.82 percent of its total revenue. Meanwhile, its non-performing loan ratio fell to 1.76 percent by the end of September, a decline of 0.16 percentage points from the end of last year.

Its total assets amounted to 6.79 trillion yuan by the end of last month, up 7.97 percent from the end of 2018.

The company's share price gained 0.55 percent to 12.77 yuan Tuesday.