LOS ANGELES, May 4, 2001 (PRIMEZONE) -- As reported in the April 30, 2001 issue of Los Angeles Business Journal (LABJ), GBC Bancorp (Nasdaq:GBCB), holding company of General Bank, is the most profitable public financial institution in Los Angeles and the twelfth best performing Los Angeles public company, based on its five-year average annual return on equity (ROE) of 19.1% as listed in the "Star Performers Over Time" section of the report.
Based on 2000 ROE, the report showed GBC Bancorp, with a 21.1 % ROE, to be the second most profitable financial institution, and 23rd best performing public company among the journal's list of 274 public companies in Los Angeles County.
"This ranking is considerably higher than many of our peers," said Peter Wu, President and CEO of the Bank. "We are particularly proud that we have been able to provide solid returns to our investors year after year."
"They (referring to the `Star Performers Over Time') tend to show solid and sustained profitability," said Greg Range, managing director of Duff & Phelps LLC, the company that complied the list.
General Bank specializes in international trade financing, real estate and construction lending, and is one of the very few small-cap banks in the country that is successfully engaged in financing the high-tech sector. The Bank operates branches throughout California, a branch in Kent, Washington, a loan production office in New York City, and is committed to investing in and growing with the communities it serves. For more information about General Bank and GBC Bancorp, please visit our website at www.generalbank.com.