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China Minsheng Banking sees 60 pct surge in first half profit

Beijing (ANTARA News/Asia Pulse) - China Minsheng Banking Corp (SSX:600016) said first-half profit surged more than 60 per cent on increased loans and robust demand for services.

In a statement to the Shanghai exchange, the bank, said its growth estimate was based on unaudited numbers, and did not include a final profit figure.

In the first half of 2006 Minsheng, the nation's first privately owned bank, posted a profit of 1.73 billion yuan (US$228 million). Minsheng market value has swelled sevenfold since 2002 to 165 billion yuan.