China's SPD Bank sees 2018 net profit up 3 pct

BEIJING, March 26 (Xinhua) -- Shanghai Pudong Development bank (SPD bank) said its net profit for 2018 climbed 3.05 percent Year on Year to 55.91 billion yuan (about 8.34 billion U.S. dollars).

Revenue edged up 1.73 percent to 171.54 billion yuan last Year, the bank said in its audited 2018 financial report to the Shanghai Stock Exchange Tuesday.

Earnings per share stood at 1.85 yuan, edging up 0.54 percent from a Year earlier.

The bank said its asset quality had improved as it strove to strike a balance between risk control and business development.

Its total assets had amounted to 6.29 trillion yuan by the end of 2018, up 2.48 percent from the end of 2017. Meanwhile, its non-performing loan ratio had fallen to 1.92 percent, down 0.22 percentage points from the beginning of 2018.

The company's share price opened 0.73 percent higher at 11.11 yuan Tuesday.