Guangdong Development Bank (GDB) has met the minimum requirement for financial strength for the first time in 20 years after recording profit growth of over 140% in the first half of the year, state media reported. The bank posted a capital adequacy ratio of 8.1% at the end of June, above the minimum 8% required by China’s banking regulator. GDB, which sold a 85.6% stake to a consortium led by Citigroup in 2006 after a protracted battle with rival bidders, has seen marked improvement since the investment. Its non-performing loan ratio fell 0.77% to 3.23% at the end of June.
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