China Merchants Bank's 2016 Results Stood Out; Fast Retail Banking Growth, Improving Asset Quality
China Merchants Bank’s 2016 results stood out with net profits and pre-provision operating profits growing 7.6% and 7.8%, respectively, from 2015. For the first time, contribution of profit before tax from its prominent retail banking business exceeded 50% to 57%, versus 37% in mid-2015. The results highlighted the bank's strong growth in its premium customer base, better-than-peer asset quality, smooth progress in asset mix optimization to counter unfavorable economic factors, and industry-lead...
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