Thursday, March 06, 2008

Guangdong Development Bank eyes businesses with SMEs

The restructured Guangdong Development Bank will focus on small and medium enterprises businesses (SMEs) and make full use of limited lending resources to boost the sector, said Huang Liyin, general manager of the bank's corporate banking at the Shanghai branch.

"SME business is like a gold mine for banks like us that is yet to be fully explored," Huang said, adding that the bank's strategy is to attract big clients and develop its retail banking.

Guangdong Development Bank posted a net profit of RMB 2.54 billion in 2007, against the loss of RMB 624 million a year earlier. Its non-performing loan ratio fell to 4.02%, compared with 5.83% in 2006.

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