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China Merchants Bank posts 3.2% increase in FY'15 net profit, ups dividend

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China Merchants Bank posts 3.2% increase in FY'15 net profit, ups dividend

ChinaMerchants Bank Co. Ltd. said March 30 that full-year 2015 netprofit rose 3.2% year over year.

The bank's net profit attributable to shareholders increasedto 57.70 billion yuan from 55.91 billion yuan in 2014. EPS climbed year overyear to 2.29 yuan from 2.22 yuan.

Net interest income jumped to 136.73 billion yuan from117.20 billion yuan in 2014, while net fee and commission income increased yearover year to 53.42 billion yuan from 39.49 billion yuan. Net operating incomefor 2015 rose to 202.30 billion yuan from 166.53 billion yuan for 2014.

The company's net interest margin increased to 2.75% in 2015from 2.64% in 2014.

Meanwhile, the nonperforming loan ratio rose to 1.68% from1.11%. The allowance coverage ratio of NPLs declined year over year to 178.95%from 233.42%.

As of the end of 2015, the group's core Tier 1 and Tier 1capital adequacy ratios climbed to 10.83% from 10.44% in the same period in2014. The capital adequacy ratio rose to 12.57% at the end of 2015 from 12.38%as of Dec. 31, 2014.

The company's board also declared a cash dividend of 69 fenper share for 2015, up from 67fen per share in 2014.

As of March 29, US$1was equivalent to 6.51 Chinese yuan.