China Merchants Bank Posts 40% Surge In 2011 Net Profit

China Merchants Bank Co CIHKY reported a 40% rise in its 2011 net profit. China Merchants Bank's net profit for the period climbed to CNY36.13 billion (US$5.7 billion), versus CNY25.77 billion in 2010. Analysts were expecting a net profit of CNY34.93 billion.