Shanghai-listed China Minsheng Banking Corp yesterday reported a 69 per cent jump in net profit for the year to December on strong growth in non-interest income. Net profit totalled 6.34 billion yuan (HK$6.95 billion), up from 3.76 billion yuan a year earlier, following a 44.98 per cent rise in turnover to 25.3 billion yuan. Earnings per share rose to 48 fen, an increase of 54.84 per cent. The bank estimated this year's net profit at nine billion yuan and total assets at 1.1 trillion yuan, compared with 919.7 billion yuan last year. The bank booked interest income of 22.6 billion yuan in the period, reflecting 40 per cent growth over the previous year. Non-interest income soared 112 per cent to 2.7 billion yuan, accounting for 11 per cent of total revenue, up 3.4 percentage points from the previous year. The lender also benefited from a strong 117 per cent growth in income from commission and handling fees to 2.6 billion yuan. Minsheng Bank launched 67 products to diversify into wealth management. It had 13.1 billion yuan under management at the end of last year. Lending showed a 39.77 per cent growth to 32.1 billion yuan from 22.9 billion yuan in 2006. The bank reduced its non-performing loan ratio to 1.22 per cent of total lending from 1.25 per cent in 2006. However, in absolute terms non-performing loans increased to 6.77 billion yuan at the end of last year from 5.89 billion yuan in 2006.