China Minsheng Banking Corp, which says it caters to clients including “high-end retail customers”, announced it logged a net profit attributable to shareholders in the first three quarters of the year, at RMB36.8 billion ($6.02 billion), up 10.40 per cent on a year ago.

China Minsheng Banking Corp, which says it caters to clients including “high-end retail customers”, announced it logged a net profit attributable to shareholders in the first three quarters of the year, at RMB36.8 billion ($6.02 billion), up 10.40 per cent on a year ago.

As at the end of September 2014, net assets were RMB3.8 trillion, up 16.83 per cent year-on-year, it said in a statement yesterday.

In the first three quarters of 2014, operating income was RMB99.916 billion, up 16.2 per cent on a year earlier.

At 30 September, non-performing loans as a percentage of the total rose, with the ratio at 1.04 per cent, up 0.19 percentage points as compared with the end of the previous year.

Minsheng Bank said it has continued to implement its “high-end customer strategy”. As at the end of September 2014, the number of private banking customers reached 14,448, with financial assets under management amounting to RMB230.601 billion, representing increases of 12 per cent and 20.14 per cent as compared with the end of the previous year, respectively.

As reported elsewhere on WealthBriefingAsia today, ICBC, the Chinese banking giant that also has wealth management as a business line, has reported improved results.