CM Bank (03968) interim net up 16% to Rmb30.46bn; no div

    China Merchants Bank (03968) said its net profit attributable to shareholders for the six months ended 30 June 2014 rose 15.94% year-on-year to Rmb30,459 million.
  Its basic and diluted earnings per share were Rmb1.21.
  The net interest income was Rmb53,858 million, an increase of 13.53% from a year earlier, which was mainly due to the increase in the volume of interest-earning assets. From January to June 2014, the net interest margin of the Group was 2.57%, down by 32 basis points as compared with the first half of 2013.
  As at the end of the reporting period, the total non-performing loans of the Group amounted to Rmb23,697 million, an increase of 29.27% as compared with the end of the previous year. The non-performing loan ratio was 0.98%, up by 0.15 percentage point as compared with the beginning of the year. The non-performing loan allowance coverage ratio was 251.29%, representing a decrease of 14.71 percentage points as compared with the beginning of the year.
  As at 30 June 2014, the capital adequacy ratio and the Tier 1 capital adequacy ratio of the Group under the weighted method was 10.89% and 8.73% respectively, representing a decrease of 0.25 percentage point and 0.54 percentage point as compared with those at the beginning of the year. 
  No interim dividend will be distributed.