Company Index
China Merchants Bank
China Merchants Bank
NEWS
Major Chinese banks reported mixed results, with overall revenue and net profit declining, and significant variation in performance. Non-performing loan ratios in the real estate sector remained high, impacting personal and business lending. Despite revenue drops, some banks showed net profit growth by cutting costs and relying on non-interest income, particularly from bond market investments.
Sep.7 2024 13:03 PM
In H1 2024, the Chinese M&A market saw 3,674 disclosed transactions worth approximately 709.9 billion yuan, down 3.32% in volume and 12.45% in value year-on-year. A significant M&A deal involved Wanda Group's Zhuhai Wanda Commercial Management with five investors investing 60 billion yuan, reducing Wanda's stake to 40%. M&A loans in China have grown in importance, with banks competing fiercely in this niche sector, despite complexities and regulatory challenges.
Jul.27 2024 12:52 PM
CMB deal to acquire New Times Trust to be ‘announced soon’, employee confirms
Jul.17 2024 04:46 AM
- In 2023, the growth rate of retail loans in the banking sector slowed due to a decline in personal housing mortgage loans, traditionally a major component of retail lending. By the end of Q3 2023, the year-over-year growth rate of domestic retail loans was 6.85%, a decrease of 32 basis points from the same period in 2022.
- The balance of personal housing loans nationwide by the end of 2023 was ¥38.17 trillion, marking a year-over-year decrease of 1.6% and the first negative growth since 1997. Major banks reported similar trends with a collective reduction in mortgage loan balances amounting to ¥5166.26 billion, or a decline of 1.95%.
- Amidst these challenges, banks have shifted focus towards consumer loans targeting high-quality customer groups and personal business loans aimed at individual entrepreneurs and rural households, seeing these as areas with potential for growth despite existing financing difficulties for these groups.
Apr.27 2024 12:44 PM
- In 2023, China's banking sector faced a "cold spring" with many banks reporting a decline in revenue and a slowdown in net profit growth due to weak expectations, insufficient demand, and narrowing interest margins. Despite rapid asset growth, the quality of assets remained stable with high non-performing loan (NPL) ratios in real estate loans and rising NPL generation rates in credit card and consumer loans.
- The six major Chinese banks reported an average revenue growth rate of 0.58%, a decrease from the previous year, while the ten national joint-stock banks saw an average revenue growth rate of -3.29%. At least five listed small and medium-sized banks achieved net profit growth rates exceeding 15%, but others experienced significant profit declines.
- Banks are focusing on maintaining stable interest margins and exploring ways to increase non-interest income amid pressures on net interest income and fees/commission income. They are also balancing dividend payouts with capital replenishment needs in light of regulatory changes and economic uncertainties, aiming for sustainable development without compromising their ability to support economic growth and manage risks effectively.
Apr.6 2024 13:24 PM
Wang Nan was expelled from the Communist Party and dismissed from his position while Wang Yanrong was moved to a backwater department
Mar.26 2024 04:50 AM
Debt-laden Chinese state-backed developer in talks with group led by China Merchants Bank to secure syndicated loan
Dec.22 2023 05:55 AM
State-owned venture agrees to settle lawsuits by China Merchants Bank and HuaRui Bank in failed 2016 investment in U.K. sports media company
Sep.22 2023 05:53 AM
Year-long probe of Tian Huiyu results in allegations of taking an ‘extremely huge amount’ of bribes, insider trading and abuse of power
Mar.2 2023 05:33 AM
China Merchants Bank, China Guangfa Bank and China UnionPay unit punished for violations in payment and clearing businesses
Jan.7 2023 05:47 AM
The unmaking of former China Merchants Bank chief Tian Huiyu may be rooted in his equity investments in electric-vehicle battery giant CATL
Nov.15 2022 20:37 PM
Tian Huiyu, facing corruption arrest warrant, made a killing on hidden personal stakes in the bank’s early backing of the EV battery giant, sources said
Oct.27 2022 04:28 AM
China’s top state leaders are vaccinated against Covid-19 with domestically developed jabs. The country expands a cross-border cash-pooling trial for multinationals
Jul.26 2022 09:49 AM
CMB board pulls the plug on five-year-old independent direct banking project as JD Digits chief loses interest
Jul.23 2022 03:13 AM
Cases of former Industrial Bank board Chairman Jiang Yunming and former China Merchants Bank President Tian Huiyu may be linked, sources say
Apr.23 2022 04:31 AM
Tian Huiyu was removed from his position on Monday, ending his nearly nine-year stint running one of the country’s largest commercial banks
Apr.22 2022 18:52 PM
China’s economy expands 4.8% year-on-year in the first quarter. The president of China Merchants Bank is removed from his position
Apr.19 2022 08:30 AM
Board votes to reassign Tian Huiyu after nine years at the helm and put Wang Liang, an executive vice president, in charge
Apr.18 2022 21:41 PM
Chinese envoy reaffirms the nation's respect for Ukraine’s sovereignty and assures his countrymen of safe evacuation
Mar.1 2022 09:15 AM
Subsidiary of lender will try out AI-backed identity verification tool on mainland customers who open Hong Kong-dollar accounts
Feb.28 2022 18:43 PM
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