Everbright Bank reports huge growth in assets

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Last updated at: (Beijing Time) Sunday, January 18, 2004

Everbright Bank reports huge growth in assets

The China Everbright Bank, a national joint-stock commercial bank, on Sunday posted combined assets amounting to 407.7 billion yuan (49.1 billion US dollars) by the end of 2003.

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The China Everbright Bank, a national joint-stock commercial bank, on Sunday posted combined assets amounting to 407.7 billion yuan (49.1 billion US dollars) by the end of 2003.

This represents a big increase of 79.4 billion yuan (9.57 billion dollars) in just one year.

A bank executive noted that Everbright also achieved progress in terms of overall scale, service quality and profits, citing that non-performing loan ratio fell 4.95 percentage points from the beginning of 2003 to 7.48 percent at the year end. And outstanding loans jumped 29.9 percent in the year.

Outstanding general deposits also grew 28.34 percent in 2003. The bank's combined profits went up 25.46 percent in the year, hitting a record in its business history.

Factors behind the booming figures were Everbright's fine and varied services for customers as well as the efforts for market expansion, the executive said.

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