--FILE--A pedestrian walks past a branch of SPD Bank (Shanghai Pudong Development Bank Co Ltd) in Yichang city, central China's Hubei province, 14 December 2015.
Shanghai Pudong Development Bank Co Ltd became the first A-share listed company to release its preliminary earnings estimates with business performance higher than expectations, but the overall condition of Chinese commercial banks still remains far from favorable. The annual operating income of the Shanghai-listed stockholding commercial bank in 2015 totaled 146.5 billion yuan ($22.5 billion), increasing 19 percent year-on-year; and its net profit totaled 50.6 billion yuan, increasing 7.6 percent year-on-year. The total assets of SPD Bank were 5.04 trillion yuan by the end of 2015, increasing 20.2 percent year-on-year. "The revenue performance of SPD Bank is higher than our expectations and its profit growth is favorable, and the main reasons may be securities investment returns and receivables from financial institutions," said a report of Ping An Securities Co Ltd. The report said SPD Bank is expected to be the second-largest stockholding commercial bank in China by asset size following China Merchants Bank Co Ltd.Zhou jianping—Imaginechina/AP