--FILE--A pedestrian walks past a branch of China Merchants Bank (CMB) in Shanghai, China, 26 March 2011. Midsize Chinese lender China Merchants Ban
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Imaginechina Limited / Alamy Stock PhotoImage ID:
W946N7File size:
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2663 x 3540 px | 22.5 x 30 cm | 8.9 x 11.8 inches | 300dpiDate taken:
26 March 2011Photographer:
ImaginechinaMore information:
--FILE--A pedestrian walks past a branch of China Merchants Bank (CMB) in Shanghai, China, 26 March 2011. Midsize Chinese lender China Merchants Bank Co. said its first-half net profit rose 12% from a year earlier, sharply slower than the same period last year, as Chinas financial institutions feels the effects of a weaker economy. The results announced Friday (16 August 2013) came one day after China Merchants said Chinas securities regulator approved its plans to launch a rights issue in Hong Kong, as the bank joins others in China moving to shore up their capital base. China Merchants Bank, Chinas sixth-largest bank by assets, said net profit for the first six months of the year ended June 30 totaled 26.27 billion yuan ($4.29 billion), up from 23.4 billion yuan a year earlier. The result was higher than the average 25.94 billion yuan net profit forecast of four analysts polled earlier by Thomson One Analytics. The bank said the increased profits were driven by growth in net interest income and higher fees. In the first half of 2012, profits rose 26% from a year earlier.