China Merchants Bank H1 Net Profit Rises 60Pct

»China Merchants Bank, the country’s sixth-largest lender by assets, said Wednesday its first-half net profit rose 60 percent year-on-year to 13.20 billion yuan due to strong growth in both interest and fee-based income.

»Capital Adequacy Ratio stood at 11.6 percent, up 1.15 percentage points from the end-2009 while core adequacy ratio rose 1.42 percent to 8.5 percent, the company said.

»First-half net interest income jumped 41.45 percent to 26.34 billion yuan because of the expanding of interest-bearing assets and improved net interest margins.