SPD Bank's profits jump 42 pct

Shanghai Pudong Development Bank, a mid-sized lender, said Friday that its earnings jumped 42.28% year-on-year due to rising net interest incomes and commissions as well as lower operation costs. Net profits climbed to 27.29 billion yuan (4.33 billion U.S. dollars), or 1.46 yuan per share, last year, from 19.18 billion yuan, or 1.23 yuan per share, in 2011, the lender said in a statement filed to the Shanghai Stock Exchange. Shareholders will be paid 3 yuan in dividends for every 10 shares they hold. The bank's core capital adequacy ratio reached 9.2% at the end of last year, down 1.7 percentage points from the end of 2010. Its non-performing loan ratio eased to 0.44% from 0.51% at the end of 2010, according to the statement. The lender said it expects its total assets to rise 14% to reach 3.04 trillion yuan this year. It also targets a 17-percent increase in net profits in 2012, according to the statement.