Minsheng Drops as Profit Growth Slows to Low in Decade

China Minsheng Banking Corp., whose president resigned after a magazine reported that he’s the subject of a government probe, declined after posting its weakest annual profit growth in at least a decade.

The shares fell 0.7 percent in Hong Kong and 0.5 percent in Shanghai as of 9:55 a.m. local time, while most banking stocks gained. Beijing-based Minsheng said late yesterday that net income rose 5.4 percent from a year earlier to 44.5 billion yuan ($7 billion), missing the 45.8 billion yuan average estimate of 28 analysts in a Bloomberg survey.