China Merchants Bank Co., Ltd. announced its third quarter results on Oct 26. During the July to September 2006 period, net profit reached RMB1,669 million, an increase of 54% over the same period in 2005 (Net profit was RMB1,085 million during the same period of 2005).

Total assets reached RMB874 billion, an increase of 6% from RMB824.3 billion as of June 30, 2006 and an increase of 19% from RMB734 billion as of December 31, 2005.

During the third quarter of 2006, the bank recorded steady deposit and loan growth, and overall asset quality continued to improve. As of September 30, 2006, total loans reached RMB540.1 billion, an increase of 14% from the end of 2005, and an increase of 1.61% over the previous quarter of 2006.

Total deposits reached RMB732.1 billion, increased 15% from the end of last year and 4.05% quarter over quarter. During the July to September 2006 period, the Bank's net interest income recorded a significant increase of 61% from the same period of 2005 to RMB5, 259 million.

Net fee and commission income was RMB600 million, up 44% over the same period last year.

Source:佚名