SPD reveals good performance

Shanghai Pudong Development Bank Co Ltd became the first A-share listed company to release its preliminary earnings estimates with business performance higher than expectations, but the overall condition of Chinese commercial banks still remains far from favorable.

The annual operating income of the Shanghai-listed stockholding commercial bank in 2015 totaled 146.5 billion yuan ($22.5 billion), increasing 19 percent year-on-year; and its net profit totaled 50.6 billion yuan, increasing 7.6 percent year-on-year.

The total assets of SPD Bank were 5.04 trillion yuan by the end of 2015, increasing 20.2 percent year-on-year.