CMB’s First-Half Results Showed Early Signs of Credit Quality Stabilization
China Merchants Bank’s first-half results were solid, with net profits and preprovision operating profits increasing 6.8% and 12%, respectively, from the year-ago period. Over the past two quarters, profit before tax from its prominent retail banking business increased by 36.7% from the year-ago period, contributing 49.3% of total profits. The results highlighted the bank’s funding cost advantage, strong fee income growth, and slower pace of credit deterioration over the first half. In light of ...
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