Shenzhen Development Bank Co., Ltd. recorded net profits of 890 million yuan (112.5 million U.S. dollars) in the first three quarters of this year, according to the bank's financial report released on Wednesday.

The report said the profits represented a 197-percent rise from the same period last year and the earnings per share were 46 fen (5.8 U.S. cents).

It said the rise in profits came after its net operating earnings rose by 1.04 billion yuan (131.2 million U.S. dollars) and provisions for non-performing loans declined 412 million yuan (52.1 million U.S. dollars).

The report said the bank's trade financing, corporate lending to medium and small-sized businesses and mortgage loans reported robust growth. Between January and September, its retail loans rose 80 percent, while other loans climbed 47 percent.

By September 30, the bank's non-performing loan ratio dropped to 8.3 percent from 10.3 percent in the same period of last year. Its total non-performing loans stood at 14.5 billion yuan (1.8 billion U.S. dollars).
 
Editor: Yan