Minsheng Banking '12 profit up 34.5%

BEIJING - Net profit at China Minsheng Banking Corp Ltd surged 34.51 percent year-on-year to 37.56 billion yuan ($5.96 billion) in 2012, the bank announced Saturday.

Business revenue rose 25.16 percent from the 2011 level to 103.09 billion yuan, and earnings per share stood at 1.34 yuan, the mid-sized lender said in a preliminary profit report filed to the Shanghai Stock Exchange.

The bank's total assets grew 44 percent year-on-year to 3.21 trillion yuan at the end of 2012, while gross liabilities climbed 45 percent to 3.04 trillion yuan.

Minsheng's non-performing loan ratio was 0.76 percent as of the end of 2012, an increase of 0.13 percentage points from a year ago, the bank said.

Shares of the bank climbed 3.91 percent to 8.78 yuan on the Shanghai market Friday.

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