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Minsheng profit up

(Shanghai Daily)
Updated: 2007-03-19 10:15

China Minsheng Banking Corp, the nation's only privately controlled bank, said profit rose 43 percent in 2006 as the fastest economic growth in 11 years fueled demand for loans.

Net income increased to 3.83 billion yuan (US$495 million), or 0.38 yuan a share, from a revised 2.67 billion yuan, or 0.37 yuan, a year earlier, the Beijing-based bank said in a statement to Shanghai's stock exchange, citing domestic accounting standards.