Ping An bank to join deep development net profit will increase by 80% this year

Ping An bank injected into the deep development of the plan no suspense passed the China Ping An board of trustees for consideration. China Ping An said that after the completion of the deal, deep development will be China's Ping an sustained capital support.　　Shenzhen is expected to achieve a net profit of 9 billion yuan this year, an increase of 80%. China Ping An announced today that the Board of Directors considered the adoption of major asset purchases and associated transactions and related issues, such as a number of bills, China Ping ' an 90.75% stake in Ping An bank and cash 2.69 billion yuan in full subscription for the deep development of targeted 1.638 billion shares, subscription price of 17.75 yuan/share, The total price is about 29.1 billion yuan.　　At present, the transaction still requires the approval of both shareholders ' meeting and regulatory authorities. According to the above announcement, under the evaluation report issued by the Sino-Union Assets Assessment Limited, as at June 30, 2010, Ping An bank net assets valuation value is 29.081 billion yuan.　　Combined with the 2010 and 2011 earnings forecasts and commitments of Ping An bank, it is expected that ping an bank 2010 profit growth of at least 58% to 1.75 billion yuan, 2011 net profit increased to 2.3 billion yuan, 2010 expected net rate of about 1.79 times times, 2011 expected net rate of about 1.57 times times. Ping An said that after the deal was completed, the Shenzhen development and Ping An bank will study viable options for the subsequent integration of the two lines.　　In due course, the development will take the form of two-line integration, including, but not limited to, the means permitted by applicable laws such as the incorporation of Ping an bank.　　The announcement also said that China's Ping An board also considered the adoption of a profit forecasting compensation agreement with the deep development of the relevant bills, the move makes the bank of Ping An as an injection of assets to the deep development of the profit contribution has a guarantee, protect the interests of both parties to the transaction, and the transaction will be completed after the stable development of banking business has a positive impact. Ping An said that after the completion of the transaction, China Ping ' an will become a controlling shareholder of the deep development, the deep development will become the controlling shareholder of Ping An bank, and the deep development will usher in a rare opportunity of epitaxial growth.　　After the completion of the transaction, the depth of the development of the number of outlets will be greatly enhanced to fill the Hercynian economic zone gap. In addition, the deep development will be able to obtain China Ping ' an sustained capital support, share China Ping ' an group of subsidiaries 5600多万个 customers, more than 2 million of enterprise customers resources, and further enhance the overall competitive strength. It is estimated that after the transaction, after the expansion of the deep development in the first half of 2010 to prepare for the net profit of 3.847 billion yuan, compared to 279% before the transaction growth. The total assets of the bank after the deal is estimated to exceed 900 billion and the net profit of 2010 is expected to exceed 9 billion yuan. According to the data, the net profit for 2009 was $5 billion.