China Minsheng Banking Corp., Ltd. announced Thursday that its net profits surged 58.8 percent to 27.92 billion yuan (4.4 billion U.S. dollars) in 2011 amid an optimized revenue structure and improved efficiency.
The bank said revenues raised through service charges and commissions totaled 15.1 billion yuan, accounting for 18.33 percent of its business revenues.
Earnings per share stood at 1.05 yuan, up 0.39 yuan year-on-year.
The non-performing loan ratio was 0.63 percent as of the end of 2011, a further decrease of 0.06 percentage points from the end of 2010, the bank said.
The bank's total assets hit nearly 2.23 trillion yuan at the end of 2011, up 22.23 percent from a year ago. Its outstanding loans for small- and micro-sized firms reached 232.5 billion yuan, up 46.24 percent year on year.
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