Select a page

Banking News

Citigroup's China interest sees 21 percent profit rise

Citigroup’s China interest sees 21 percent profit rise

(China) - Shanghai Pudong Development Bank, in which Citigroup has a 4 percent stake, has announced a 21 percent lift in 2002 net profit to 1.285 billion yuan (US$154 million). The result was stuck on a 13 percent increase in core business revenue, built on a 42 percent lift in interest income.

The bank's capital adequacy ratio fell to 8.5 percent from 11.2 percent on the back of major spending to open new branches.

Comment on this article

 

Your comments will not be published. Required fields are marked *

 

Please enter the word you see in the image below:


Subscribe

Subscribe to our mailing list

Sign up now to keep up-to-date with the latest
market news and insights in B2B banking.

* indicates required

For more information please read our Terms and Conditions and Privacy Statements.