China Minsheng Banking: 1Q Net Profit CNY14.20 Billion; Up 3.6% on Year

By Chester Yung Features Dow Jones Newswires

China Minsheng Banking Corp. (1988.HK) said late Wednesday its first-quarter net profit rose 3.6% from a year earlier, partly thanks to lower operating expenses.

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The Chinese bank said its net profit for the three months ended March 31 rose to 14.20 billion yuan ($2.06 billion) from CNY13.71 billion a year earlier, while its first-quarter total operating income fell 9.7% on year to CNY36.23 billion.

As at the end of March, the bank's non-performing loan ratio was 1.68%, same as the previous year, it said.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

April 26, 2017 20:55 ET (00:55 GMT)