Management change, capital, and loan quality remain key concerns for CMBC.
China Minsheng Bank’s, or CMBC's, first-quarter results recorded a solid 4% net profit growth. However, it was largely attributed to the 21% decline in income taxes due to increased investment in tax-exempted government bonds. Operating profits fell 1.6% from the year-ago period. Revenue dropped a larger extent than peers at 10%. The 27 basis points decline in net interest margin despite a 24% growth in interest-earning assets led to a 14% drop in net interest income. This indicates CMBC’s weak ...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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