CHINA / Regional |
Bank sees strong H1 profit growth(Reuters)Updated: 2007-07-18 09:54 SHANGHAI -- Bank of Ningbo, partly owned by Singapore's Oversea-Chinese Banking Corp. , said on Wednesday it expected sharp growth in its lending business and fee income to boost first half net profit by 41 percent. Bank of Ningbo, based in the eastern Chinese city of Ningbo near Shanghai, said in a statement published on major Chinese securities newspapers that the company posted a net profit of 272 million yuan ($35.97 million) for the first half of 2006. The Bank of Ningbo projected it will earn 383 million yuan in the first half of 2007, according to the statement. The forecast results were unaudited, it said. Bank of Ningbo said on Monday it had settled its IPO price at 9.2 yuan apiece to raise 4.14 billion yuan from the sale of 450 million shares. The bank's listing on the Shenzhen Stock Exchange begins on Thursday.
($1=7.56 Yuan) |
|