Business
15:44, 20-Aug-2017
China Merchants Bank posts faster profit growth in H1
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China Merchants Bank has posted improved 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 (around 5.9 billion US dollars) in the first six months of 2017, up 11.4 percent on last year, the company said in a statement.
This was higher than the 6.8 percent rise in the same period last year.
Net interest income rose 5.1 percent to 70.9 billion yuan (10.6 billion US dollars) in H1, the bank said.
Total assets climbed 4.3 percent from six months earlier to 6.1 trillion yuan (914.5 billion US dollars) by the end of June, while its bad loan ratio fell 0.16 percentage points to 1.71 percent.
The bank's shares rose 1.44 percent in Shanghai on Friday but dropped 0.19 percent in Hong Kong.
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Source(s): Xinhua News Agency