ZCZC
BCN-21
CHINA-MERCHANTS-BANK-EARNING
China Merchants Bank earnings up 14 pct in H1
BEIJING, Aug. 25, 2018 (BSS/Xinhua) – China Merchants Bank, one of the
largest lenders in China, registered rapid profit growth in the first half of
the year thanks to robust retail businesses.
The bank’s net profit jumped 14 percent year on year to 44.8 billion yuan
(about 6.52 billion U.S. dollars), the company said in a statement filed with
the Shanghai Stock Exchange.
The company’s operating income increased by 11.75 percent to 126.1 billion
yuan.
Retail financial businesses generated before-tax profit of 31.69 billion
yuan, up 17.76 percent year on year, accounting for more than half the total
before-tax operating profits.
The bank’s non-performing loan ratio came in at 1.43 percent at the end of
June, down 0.18 percentage point compared with the end of 2017.
BSS/XINHUA/HR/1300