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CDB forecasts improved profit for interim 2021
August 11th 2021
China Development Bank Financial Leasing Co. (CDB) said net profit for the the six months to June 30, 2021 is expected to come in at 46% above the 1.2 billion yuan (US$191 million) net profit recorded in the same six-month period in 2020 based on preliminary calculations. Read More » The company said in a regulatory filing to the Stock Exchange of Hong Kong the financial improvement was due to growth in total leased assets resulting from an increase in financing to lessees during the current period, revenue growth in its ship operating leasing business and lower US$ financing costs. There also was a year-on-year decline in impairment losses. CDB said the 2020 result was a "lower base of net profit" due to COVID-19.
