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RETAIL BANKING | Cesar Tordesillas, Malaysia
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Minsheng Banking first half profits up 57%

Rising incomes from loans and fees pushed China Minsheng Bank's first-half profits up by surged 56.98  percent.

 

Net profits rose to 13.92 billion yuan or $2.2 billion from 8.87 billion yuan a year earlier.

Net interest income, revenue from borrowers minus interest paid to depositors, climbed 39.59 percent during the first half, while income from fee-based services and commissions gained 75.63 percent to 7.92 billion yuan.

Total assets hit 2.16 trillion yuan at the end of June with the core capital adequacy ratio down 0.32 percentage point to 7.75 percent.

The lender’s shares gained 1.07 percent to close at 5.67 yuan.

The full story is available at Bloomberg.

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