China Merchants Bank posts faster profit growth in H1

XINHUA, BEIJING: China Merchants Bank, a mid-sized Chinese lender, posted better net profit growth in the first half of the year with a higher net interest income.

The bank’s net profit attributable to shareholders reached 39.3 billion yuan (about 5.9 billion US dollars) in the first six months of the year, up 11.4 per cent year on year, it said in a statement.

This was higher than the 6.8-per cent rise in the same period of last year.

Net interest income rose 5.1 per cent year on year to 70.9 billion yuan in H1, the bank said.

Total assets climbed 4.3 per cent from six months earlier to 6.1 trillion yuan by the end of June, while its bad loan ratio fell 0.16 percentage point to 1.71 per cent.

The bank’s shares rose 1.44 per cent in Shanghai on Friday but dropped 0.19 per cent in Hong Kong.

China Merchants Bank posts faster profit growth in H1

XINHUA, BEIJING: China Merchants Bank, a mid-sized Chinese lender, posted better net profit growth in the first half of the year with a higher net interest income. The banks net profit attributable to shareholders reached 39.3 billion yuan (about 5.9 billion US dollars) in the first six months of the year, up 11.4 per cent year on year, it said in a statement. This was higher than the 6.8-per cent rise in the same period of last year. Net interest income rose 5.1 per cent year on year to 70.9 billion yuan in H1, the bank said. Total assets climbed 4.3 per cent from six months earlier to 6.1 trillion yuan by the end of June, while its bad loan ratio fell 0.16 percentage point to 1.71 per cent. The banks shares rose 1.44 per cent in Shanghai on Friday but dropped 0.19 per cent in Hong Kong.