Lates News

ICBC International released a research report indicating that the profits of China Merchants Bank for the first quarter of the 2025 fiscal year fell slightly due to its continuous strong financial support for the real economy. During the period, net profit attributable to shareholders decreased by 2.1% year-on-year, while it increased by 1.2% year-on-year in 2024. At the same time, China Merchants Bank maintained excellent asset quality with a decrease in non-performing loan ratio and a high level of non-performing loan provision. The report mentioned that China Merchants Bank maintained strong competitiveness in the retail business market, and its high-end customer base continued to grow in the first quarter of this year. As of the end of March, China Merchants Bank's retail customer base reached 212 million, an increase of 1% from the end of December last year; the total balance of retail customer assets under management reached 15.57 trillion yuan, an increase of 4.3% from the end of December last year. The bank believes that China Merchants Bank will maintain the highest stock return rate in the industry this year and maintains a "buy" rating with the target price lowered from HK$54.22 to HK$53.82.