China's securities regulator approved China Everbright Bank's (CEB) initial public offering of 6.1 billion shares Monday. Banking analysts forecast the Beijing-based bank, the first joint-stock bank to receive capital injection from the country, will further improve its profits after being listed in the A-share market.

By the end of 2009, the total assets of the bank had reached 1.2 trillion yuan (US$176.97 billion), doubling the figure from the end of 2006. Its after-tax profit climbed to 7.6 billion yuan (US$1.12 billion), 1.7 times more than the figure in 2006. Its non-performing loans decreased to 1.25 percent at the end of 2009. In H1 this year, the bank's total assets had exceeded 1.4 trillion yuan (US$206.48 billion), with its asset quality further improved.

China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

Go to Forum >>0 Comments