China Minsheng Banking First-Half Net Profit Up 3.2%

By Chester Yung Features Dow Jones Newswires

China Minsheng Banking Corp. Ltd. (1988.HK) on Monday reported a 3.2% rise in first-half net profit, partly due to a drop in impairment loss on loans.

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The Chinese bank said its net profit for the six months ended June rose to 28.09 billion yuan (US$4.24 billion) from CNY27.22 billion a year earlier. Net interest income fell 13% from a year earlier to CNY41.12 billion.

The bank plans to distribute cash dividends of CNY1.2 for every ten shares.

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

(END) Dow Jones Newswires

August 28, 2017 11:17 ET (15:17 GMT)