Bank of Dalian on IPO review stop list

The Bank of Dalian was on the list of enterprises prevented from an IPO review, according to a list just published.

Basic information on the list of applicants was issued by the Issuing Supervision Department of the China Security Regulatory Commission for the first time on May 31.

The annual report of the bank showed that the net profit in 2012 increased by 1.59 percent, much lower than the average for the industry. Most commercial banks that applied for an IPO saw profit growth of 20 percent.

Although the total amount of assets and debts for the Bank of Dalian both exceeded an increase rate of 35 percent, the small growth on net profits was caused by losses on non-performing assets.