CHINA Merchants Bank Co, the biggest bank in southern China, more than doubled first-half profit as it improved loan margins and maintained fees from credit cards, withstanding government attempts to cool lending growth. Net income rose to a record 13.25 billion yuan (US$1.9 billion), or 0.90 yuan a share, from 6.12 billion yuan, or 0.42 yuan, a year earlier, the bank said in a statement to the Shanghai Stock Exchange yesterday. The results are based on Chinese domestic accounting standards.