Statistics

China Merchants Bank posts 13b yuan profits in H1

(Agencies)
Updated: 2010-08-19 16:37

China Merchants Bank, the nation's sixth-largest lender by assets, said Wednesday that its first half net profit jumped 59.80 percent year-on-year to 13.20 billion yuan ($1.94 billion), because incomes from interest and commission fees surged.

Related readings:  CMB looks further abroad  China Merchants Bank Q1 net profit up 40.42% on interest income  China Merchants Bank 2009 net profit falls  China Merchants Bank H1 net up over 50%

The lender's profits beat the average estimate of five analysts in a Bloomberg survey, which was 12.7 billion yuan, according to a Bloomberg report.

Earnings per share were 0.65 yuan, an increase of 51.16 percent from a year earlier, the bank said in its interim report.

The lender also said its net interest income rose 41% in the first six months to 26.34 billion yuan from 18.62 billion yuan because of improved net interest margins.