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China Minsheng Banking sees 58.81% surge in 2011 profit

Mar. 23, 2012 (China Knowledge) - China Minsheng Banking Corp Ltd<600016><1988>, the first privately owned bank in the country, announced yesterday that its net profit grew 58.81% year on year to RMB 27.92 billion last year.

Basic earnings per share were RMB 1.05 last year, RMB 0.39 more than in the previous year.

Operating revenue surged 50.39% year on year to RMB 82.37 billion in 2011. Net interest income rose 41% year on year to RMB 64.8 billion in the period, while non-interest income soared 97% to RMB 17.5 billion.

At the end of last year, the bank's total assets had increased to RMB 2.2 trillion. The lender saw its balance of customer deposits reach RMB 1.6 trillion and its balance of customer loans and advances hit RMB 1.2 trillion as of the end of 2011.

The lender's capital adequacy ratio had risen 0.42 percentage points from a year earlier to 10.86% at the end of 2011, while its core capital adequacy ratio had fallen 0.2 percentage points year on year to 7.87%.

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