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Net Profit Of Minsheng Bank Increases 58.81%; Agricultural Bank Increases 28.5%

Source: China Minsheng Banking Co., Ltd. , Agricultural Bank of China Ltd., ChinaScope Financial (Data)

+ On March 22, China Minsheng Banking Co., Ltd. (600016.SH, 1988.HK) released its 2011 annual report, showing that net profit attributable to shareholders from the parent company was CNY 27.92 billion, a 58.81% year-on-year increase; earnings per share (NYSEARCA:EPS) increased CNY 0.39 year-on-year to CNY 1.05 and the average return on assets increased 0.31 percentage point to 1.4%.

+ On the same day, the Agricultural Bank of China Ltd. (601288.SH, 1288.HK) also released its 2011 annual report, showing that the company's net profit increased 28.5% to CNY 12.2 billion. At the end of 2011, the bank's capital adequacy ratio was 11.94%, core capital adequacy ratio was 9.5%, and provision coverage was 263%. Outstanding non-performing loans totaled CNY 87.4 billion, leading to a non-performing loan ratio of 1.55%.

The growth of loans and deposits in MSB and ABC has been declining since 2009. At the same time, the net margin interests have grown steadily.

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