CMBC 1H Results Remained Weak with Mixed Credit Quality Outlooks
No-moat China Minsheng Bank Corp's, or CMBC's, first-half results posted a rebound in net interest income and fee income growth in the second quarter, in line with most listed peers. While top line growth remained weaker than peers and suffered from greater negative impact from the adoption of the new accounting standard, indicating the bank remained in painful transformation, which was compounded by slowing economic activities and intensifying deposit competition. As expected, the 5.7% net prof...
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