Merchants Bank net income jumps 38%

THE net profit of China Merchants Bank, the nation's fifth-largest lender by market value, jumped 38.27 percent to 21.08 billion yuan (US$3.1 billion) last year from a year ago, according to its annual report released on Saturday.

The earnings per share were 1.43 yuan, up 37.5 percent year on year. The profit surge was led by a 38.3 percent rise in net interest revenue, while non-interest income also jumped 19.37 percent, the bank said.