CMBC's 2017 Results See Sharp NIM Contraction on Rising Funding Costs
As expected, no-moat China Minsheng Bank Corp.'s 2017 results remained weaker than peers. The 4.12% net profit growth was in line with the average of listed banks, but revenue and preprovision operating profits contracted 7% and 6.4%, respectively, from 2016, contrary to the single-digit increase for most listed peers. We have yet to see meaningful progress in the restructuring plan, which CMBC started to fully implement in 2017. Challenges brought by its difficult transformation were compounded...CHINA MINSHENG BANKING CORP., LTD. (the Bank) is a China-based financial institution principally engaged in corporate banking, personal banking, capital business and other business. The Bank operates its business mainly in North China, East China, South China and other areas in China.
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