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China Merchants Bank's profit for Q1 up 32.16%

May. 2, 2012 (China Knowledge) - China Merchants Bank<600036><3968>, the nation's fifth-largest bank by market value, reaped RMB 11.64 billion in net profit attributable to shareholders in the first quarter of this year, reflecting a year-on-year increase of 32.16%.

Operating revenue for the reporting period totaled RMB 28.39 billion, of which 75.91% or RMB 21.55 billion was net interest income. Of the total revenue, RMB 4.84 billion was fee and commission income, increasing 23.41% from a year earlier or accounting for 17.05% of the total revenue.

As of Mar. 31, 2012, the lender's balance of non-performing loan was RMB 9.46 billion, RMB 287 million more than at the beginning of this year. The ratio of non-performing loan was 0.56% at the end of last month, nearly unchanged from the beginning of this year.

The Shanghai and Hong Kong-listed bank had RMB 2.96 trillion in total assets and RMB 2.79 trillion in total liabilities as of Mar. 31, 2012, reflecting an increase of 6.03% and 5.94%, respectively, from the beginning of this year.

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