China Merchants Bank Co., Ltd. Earnings Recaps
Q3 2025
Oct 31, 2025
China Merchants Bank reported stable third-quarter results with a modest year-on-year net profit growth of 0.52%, indicating resilience amid a challenging economic landscape.
Key takeaways
- Net operating income reached RMB 251.28 billion, with a slight year-on-year decline of 0.52%, though the decrease rate improved compared to earlier in the year.
- Net profit attributable to shareholders was RMB 113.7 billion, up 0.52%, demonstrating consistent profitability.
- Wealth management business saw positive momentum, with net fee and commission income growing 18% year-on-year, marking the first positive growth in three years.
- Asset quality remained stable with an NPL ratio of 0.94%, indicating effective risk management and control over loan performance.
- Continued focus on cost management with a cost-to-income ratio of 29.86% and a significant reduction in interest-bearing liabilities cost ratio to 1.31%.
Q2 2025
Sep 1, 2025
China Merchants Bank (CMB) delivered balanced performance in its 2025 interim results, achieving a slight increase in net profit amid challenging market conditions, with strong management of funding costs and asset quality.
Key takeaways
- Net profit attributable to shareholders rose 0.25% YoY to RMB 74.9 billion, while net operating income decreased by 1.73% to RMB 169.9 billion.
- Total assets grew 4.16% to RMB 12.66 trillion, with loans and advances increasing by 3.31% to RMB 7.12 trillion.
- CMB maintained an industry-leading ROAA of 1.21% and a stable cost-to-income ratio at 30.11%.
- Noninterest income showed resilience, particularly in wealth management, which rose 11.89% YoY.
- Asset quality remained robust with an NPL ratio of 0.93% and an allowance coverage ratio of 410.93%.