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Mingsheng net profit rises in 1st quarter

(Shanghai Daily)
Updated: 2007-04-25 13:29

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.