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China Minsheng Banking's H1 profit up 37%

Aug. 24, 2012 (China Knowledge) - China Minsheng Banking Corp Ltd<600016><1988>, the first privately owned bank in the country, has posted RMB 19.05 billion in net profit for the first half of this year, reflecting a YoY increase of 36.89%.

In the first six months of this year, the lender's operation revenue reached RMB 51.46 billion, RMB 12.6 billion or 32.43% more than it realized in the same period of 2011. Basic earnings per share were RMB 0.69 for the period, up 32.69% YoY.

The bank saw its net interest income grew 28.18% YoY to RMB 37.87 billion in the six-month period, while net fee and commission income increased 26.66% from a year earlier to RMB 10.03 billion.

At the end of June 2012, the lender's customer deposits totaled RMB 1.81 trillion, 10.11% more than at the end of last year, and those of customer loans and advances rose 8.13% to RMB 1.3 trillion.

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