MW: Shanghai Pudong Bank's 2009 net income rises 5%
By Chris Oliver
HONG KONG (MarketWatch) -- Shares of Shanghai Pudong Development Bank Co. (CN:600000 21.34, +0.16, +0.76%) were up 0.8% Tuesday afternoon in Shanghai after the lender reported moderate net income growth for 2009 and a dramatic expansion in the value of new loans extended. Net income totaled 13.2 billion yuan ($1.9 billion) for the 2009 calendar year, a rise of 5% from 12.52 billion yuan in 2008, according to Dow Jones Newswires, citing the bank's figures. SPDB extended 230.4 billion yuan in new loans during the year, a rise of 33% from year-earlier levels, the report said
