Shenzhen Development Bank (SDB) (000001.) forecasts a 50-60 percent year-on-year increase in first-half net profit to 4.55 to 4.85 billion yuan, reports China Business News, citing a company filing. Earnings per share (EPS) in the first half were 1.31 to 1.39 yuan. SDB attributes the increase in net profit to the stable growth of asset scale, improved interest gap and cost control. The bank will post official mid-term accounting report on August 13.

The bank reported net profit of 3.03 billion yuan and EPS of 0.98 yuan in the same period last year.

SDB posted a 52 percent year-on-year increase in net profit to 2.40 billion yuan in the first quarter of 2011, with EPS of 0.69 yuan, up 35 percent year-on-year.