Shanghai Pudong Development Bank Co., 4.6 percent owned by Citigroup Inc., said 2004 net income and lending rose 22 percent.

Profit at China's second-largest publicly traded lender increased to 1.93 billion yuan (US$233 million) from 1.58 billion yuan a year ago, the bank said in a statement to the Shanghai Stock Exchange. Outstanding lending rose to 310.9 billion yuan, the statement said. The bank's non-performing loan ratio dropped 0.08 percentage point in the year to 2.45 percent.

(Shenzhen Daily January 10, 2005)