Shanghai bank sector delivers combined assets surpassing US$730.8 billion

2009-01-23 Shanghai
 
Shanghai bank sector recorded combined assets surpassing RMB5 trillion (approximately US$730.8 billion) by the end of 2008, with net profit increasing 28.2% from a year earlier to RMB70.8 billion (approximately US$10.3 billion) and non-performing loan delivering a double-digit decrease for the seventh consecutive year. The city’s bank sector continued its strong growth trend in 2008. However, the profit growth rate of 28.2% was much lower than 2007’s 75%.