Number of pre-IPO lenders climbs to 16
The number of commercial urban banks waiting in the pipeline to get approval for initial public offerings reached 16 by May 2, according to statistics from the China Securities Regulatory Commission.
China's pre-IPO lenders reported positive growth in net profit in 2012 but capital quality must be improved to meet the demands of getting listing approval in the A-share market, reported Securities Journal on Tuesday.
Bank of Dongguan reported a 45 percent year-on-year net profit in 2012, the highest among that of the 12 pre-IPO lenders which had released 2012 financial reports by Monday.
Both Bank of Hangzhou and Shenyang-based Shengjing Bank saw more than 30 percent year-on-year net profits in 2012.
Analysts said pre-IPO lenders need to improve their capital quality in order to meet the demands of regulators and to comply with the conditions for getting listed in the A-share market.
Lenders need to lower their non-performing loan ratios and strengthen capabilities to handle risk, said analysts.
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