China's securities regulator approved China Everbright Bank's (CEB) initial public offering of 6.1 billion shares Monday. Banking analysts forecast the Beijing-based bank, the first joint-stock bank to receive capital injection from the country, will further improve its profits after being listed in the A-share market.

By the end of 2009, the total assets of the bank had reached 1.2 trillion yuan (US$176.97 billion), doubling the figure from the end of 2006. Its after-tax profit climbed to 7.6 billion yuan (US$1.12 billion), 1.7 times more than the figure in 2006. Its non-performing loans decreased to 1.25 percent at the end of 2009. In H1 this year, the bank's total assets had exceeded 1.4 trillion yuan (US$206.48 billion), with its asset quality further improved.

China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.