China's Banks Prepare For Battle
Since Shanghai Pudong Development Bank listed on the Shanghai Stock Exchange in November, its expansion plans have been in high gear. Using some of the $482 million it raised, SPDB will add four branches to its nationwide network of seven by yearend. It is refocusing its lending strategy, too--to emphasize China's hot high-tech and housing industries more and traditional commercial real estate development less. It's also shrinking its bad-debt load as fast as it can.
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