China Minsheng Bank profit rises 5.5% in Q1

A woman walks past a branch of China Minsheng Banking Corp Ltd in Yichang city, Central China's Hubei province, Dec 2, 2013.[Asianewsphoto by Zhou Jianping]

SHANGHAI - China Minsheng Bank announced Tuesday that its net profit in the first quarter of 2015 rose 5.5 percent year on year to 13.4 billion yuan ($2.16 billion).

In a statement to the Shanghai Stock Exchange, Minsheng said its operating revenue grew 15.4 percent year on year to 36 billion yuan.

Its non-performing loan ratio edged up by 0.05 percentage point from the end of last year to 1.22 percent at the end of March.

China Minsheng Bank, listed in both Shanghai and Hong Kong, is the country's first national bank founded by private capital.

The bank's capital totaled 4.02 trillion yuan at the end of March, an increase of 1.62 billion yuan from the end of last year.

Meanwhile, its outstanding loans reached 1.89 trillion yuan, a rise of 74 billion yuan. Outstanding loans to small and micro businesses stood at 408 billion yuan.