Bank of Shanghai Sees Net Profits Rise 10.58%, Plans to Issue 20B Yuan in Tier-2 Capital Supplementation Bonds

73

Regional lender Bank of Shanghai has seen revenues and net profits bounce back in 2021, as China continues to convalesce from the impacts of the COVID-19 pandemic.

During the period from January to September Bank of Shanghai posted operating revenues of 41.456 billion yuan, for a YoY rise of 10.44%.

This included 6.09 billion yuan in processing fees and commissions for a YoY rise of 38.30%, accounting for 14.69% of operating revenues.

Net profits attributable to the parent company totalled 16.644 billing yuan, for a YoY rise of 10.58%.

Bank of Shanghai’s non-performing loan ratio stood at 1.19% as of the end of September 2021, for a decline of 0.03 percentage points compared to the end of last year.

Its coverage ratio was 331.77%, for an increase of 10.39 percentage points over the same period.

As of the end of September Bank of Shanghai’s total assets were 2.652037 trillion yuan, for an increase of 7.71% compared to the end of last year. Customer loans and advances totalled 1.212501 trillion yuan, for a rise of 10.42% compared to the end of last year, while deposits were 1.456423 trillion yuan, for an increase of 12.28%.

The lender’s capital adequacy ratio was 12.37%, while its tier-1 capital adequacy ratio was 10.12%, and its core tier-1 capital adequacy ratio was 9.08%.

Bank of Shanghai has announced that it plans to issue 20 billion yuan in tier-2 capital bonds, contingent upon approval from a general shareholders’ assembly.

LEAVE A REPLY

Please enter your comment!
Please enter your name here