Banking News
- Ningbo bank expects strong profit growth
Date: 19-Jul-2007 Sources: (Shenzhen Daily)
BANK of Ningbo, partly owned by Singapore's Oversea-Chinese Banking Corp., said yesterday it expected sharp growth in its lending business and fee income to boost first half net profit by 41 percent.
Bank of Ningbo, based in the eastern city of Ningbo near Shanghai, said in a statement that the company posted a net profit of 272 million yuan (US$35.97 million) for the first half of 2006. Bank of Ningbo projected it will earn 383 million yuan in the first half of 2007, according to the statement. The forecast results were unaudited, it said.
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