Minsheng Bank profit up 34.5%

NET profit at China Minsheng Banking Corp., Ltd. surged 34.51 percent year on year to 37.56 billion yuan (US$5.96 billion) in 2012, the bank announced today.

Business revenue rose 25.16 percent from the 2011 level to 103.09 billion yuan, and earnings per share stood at 1.34 yuan, the mid-sized lender said in a preliminary profit report filed to the Shanghai Stock Exchange.

The bank's total assets grew 44 percent year on year to 3.21 trillion yuan at the end of 2012, while gross liabilities climbed 45 percent to 3.04 trillion yuan.

Minsheng's non-performing loan ratio was 0.76 percent as of the end of 2012, an increase of 0.13 percentage points from a year ago, the bank said.

Shares of the bank climbed 3.91 percent to 8.78 yuan on the Shanghai market yesterday.

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