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(Shanghai Daily)
Updated: 2007-08-07 16:31

Bank of Ningbo Co Ltd, a Chinese lender which raised 4.14 billion yuan (US$547 million) in an initial public offering last month, said audited first-half profit surged 41 percent on higher loans to domestic companies.

Net income rose to 382.8 million yuan, or 0.19 yuan a share, in the six months ended June 30 from 271.6 million yuan, or 0.15 yuan a share, a year earlier, the Zhejiang Province-based bank said in a statement.