BEIJING - China Minsheng Banking Corp said Tuesday its first-half profits surged 56.98 percent to a record amount due to rising incomes from loans and fees.
Net profits rose to 13.92 billion yuan ($2.2 billion) from 8.87 billion yuan a year earlier. Earnings per share stood at 0.52 yuan, an increase of 0.19 yuan year-on-year, the lender said in a statement filed to the Shanghai Stock Exchange.
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.