China Minsheng Bank profit up 46.5% to $619.5mln

China Minsheng Banking Corporation recorded a 46.48 percent year-on-year increase in third quarter net profit attributable to shareholders to 4.14 billion yuan ($619.51 million), with earnings per share of 0.16 yuan ($0.02), according to a company filing.

During the first three quarters of 2010, the company’s net profit attributable to shareholders and operating revenue increased 27.51 percent and 27.73 percent year-on-year respectively to 13.007 billion yuan ($1.95 billion) and 40.041 billion yuan ($5.99 billion). Of the total, the bank’s net interest revenue rose 45.53 percent year-on-year to 33.021 billion yuan ($4.94.billion).

The bank’s non-performing loan ratio reached 0.75 percent as of end September, down 0.09 percentage point from the beginning of 2010.

In addition, the bank had total assets of 1.764 trillion yuan ($263.96 billion) as of end September, up 23.70 percent from the end of 2009.

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