Bank: Minsheng's Q1 net rises

(Shanghai Daily)
Updated: 2007-04-25 14:57

China Minsheng Banking Corp, the nation's only privately controlled lender, said first-quarter profit rose 46.6 percent as an expanding economy fueled demand for loans.

Net income climbed to 1.1 billion yuan (US$143 million), or 0.11 yuan a share, from 754 million yuan, or 0.1 yuan per share a year earlier, the Beijing-based company said in a statement to the Shanghai stock exchange yesterday. The unaudited numbers were prepared under Chinese accounting standards.


(For more biz stories, please visit Industry Updates)