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China Minsheng Banking Q1 net profit climbs 2.5% YOY


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China Minsheng Banking Q1 net profit climbs 2.5% YOY

China MinshengBanking Corp. Ltd. posted a 2.5% year-over-year increase inconsolidated net profit for the first quarter.

The bank's net profit attributable to shareholders rose to 13.71billion yuan from 13.38 billion yuan. EPS for the period inched up year overyear to 38 fen from 37 fen.

Net interest income climbed to 24.11 billion yuan from 23.15billion yuan, while net fee and commission income increased to 14.57 billionyuan from 12.03 billion yuan.

Operating profit was flat year over year at 17.84 billionyuan.

The group's net interest margin clocked in at 2.11%, down 25basis points from the prior-year period.

The nonperforming loan ratio also increased 2 basis pointsto 1.62% from the end of 2015. Provision coverage ratio and provision for totalloans ratio were 152.13% and 2.46%, respectively.

The group's core Tier 1 capital adequacy ratio was 9.36%,while Tier 1 capital adequacy ratio was 9.38%. The capital adequacy ratio stoodat 11.55%.

As of April 28, US$1was equivalent to 6.48 Chinese yuan.