WILMINGTON, Del. (Dow Jones/AP) – MBNA Corp. said Thursday its profit rose 20 percent in the first quarter, as the credit-card giant’s loan receivables and total managed loans increased.

The Wilmington-based company reported net income of $519.7 million, or 40 cents a share, compared with the prior year’s $432.5 million, or 33 cents a share. MBNA has more than 3,500 employees in Maine.

The latest per-share earnings matched the average analyst estimate in a Thomson First Call survey.

Net interest income climbed to $667.8 million from $555.6 million.

Loan receivables rose $2.7 billion to $30.1 billion in the quarter, with total managed loans up 11 percent to $117.6 billion.

Meanwhile, retail sales and cash advance volume increased 15 percent.

During the quarter, the company added 2.5 million new accounts.

Shares of MBNA closed at $25.96, up 81 cents, or 3.2 percent, Thursday on the New York Stock Exchange.

AP-ES-04-22-04 1653EDT