China Minsheng Banking Corp. , the country's first private bank, said on Thursday it expected to report a more than 60 percent earnings growth for the first half of this year due to rapid business expansion.

"During the first half of 2007, the company's loan, investment and wealth management business saw steady and rapid development," the company said in a statement.

Minsheng reported a net profit of 1.73 billion yuan ($227.7 million), or 0.17 yuan per share, for the first half of 2006.