China Merchants Bank (CMB), the country's sixth largest lender, had a net profit of 8.26 billion yuan (US$120.9 million) in the first half of this year.
China Merchants Bank plans to nearly double its high-end private banking network in China this year on the back of country's recovering economic growth.
China Merchants Bank (CMB), the country's sixth-largest bank, is set to raise funds through bond and share sales this year to help cover the rapidly depreciating value of its holdings in recently acquired Wing Lung Bank of Hong Kong, a top bank executive said.
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.