Bank of Chengdu’s Assets Breach 500 Billion Yuan, First Half Profits up 18% YoY
Regional lender Bank of Chengdu has just seen assets breach the half trillion yuan threshold.
Bank of Chengdu’s first half report indicates that operating revenues for the January – June period were 6.108 billion yuan, for YoY growth of 12.41%.
Net profits attributable to shareholders were 2.505 billion yuan, for a YoY rise of 17.9%, as compared to average growth of 12.54% for 25 Chinese banks that have released first half reports.
Bank of Chengdu’s first half report further indicates that its assets breached the 500 billion yuan threshold for the first time, on the back of a strategy of “deposit increase and asset expansion.”
Bank of Chengdu was first established in 1997, by the Chengdu Municipal Financial Department, the Chengdu Hi-tech Zone Tax Department, as well as 22 regional enterprises and the Chengdu Credit Union.
On 31 January 2018 Bank of Chengdu listed on the Shanghai Stock Exchange, becoming the first listed bank in Sichuan province as well as the eighth A-share municipal commercial bank in China.