• September 30, 2017
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China Merchants Bank reports 2017 Q3 financial results

As at the end of September 2017, total assets of the Group amounted to RMB6,169.239 billion, representing an increase of 3.82% as compared with the end of the previous year; and its total liabilities amounted to RMB5,728.599 billion, representing an increase of 3.42% as compared with the end of the previous year. Total deposits from customers amounted to RMB3,974.219 billion, representing an increase of 4.53% as compared with the end of the previous year. Total loans and advances to customers amounted to RMB3,633.581 billion, representing an increase of 11.40% as compared with the end of the previous year.

For the period from January to September 2017, the Group realised a net profit attributable to shareholders of the Bank of RMB58.805 billion, representing a year-on-year increase of 12.78%, and net operating income of RMB166.361 billion, representing a year-on-year increase of 3.19%, among which, net interest income amounted to RMB107.385 billion, representing a year-on-year increase of 6.62% and accounting for 64.55% of the net operating income. For the period from January to September 2017, net interest spread and net interest margin were 2.29% and 2.42%, respectively, both representing a year-on-year decrease of 0.14 percentage point. For the third quarter of 2017, the Group’s net interest spread and net interest margin were 2.26% and 2.40%, respectively, representing a decrease of 0.05 percentage point and 0.04 percentage point, respectively, as compared with the second quarter of 2017. For the period from January to September 2017, the Group realised net non-interest income of RMB58.976 billion, representing a year-on-year decrease of 2.50% and accounting for 35.45% of the net operating income, among which, net fee and commission income increased by 0.20% to RMB49.334 billion from that of the corresponding period of the previous year, accounting for 29.65% of the net operating income, and other net operating income amounted to RMB9.642 billion, representing a year-on-year decrease of 14.32%, mainly attributable to the decrease in net investment income. For the period from January to September 2017, the cost-to-income ratio (excluding tax and surcharges) of the Group was 27.79%, representing a year-on-year increase of 2.72 percentage points, mainly due to a slowdown in the increase of net operating income and the impact of the change from business tax to value-added tax during the reporting period.

As as the end of September 2017, the balance of non-performing loans of the Group amounted to RMB60.224 billion, representing a decrease of RMB897 million as compared with the end of the previous year; the non-performing loan ratio was 1.66%, down by 0.21 percentage point as compared with the end of the previous year; and the allowance coverage ratio of our non-performing loans was 235.15%, up by 55.13 percentage points as compared with the end of the previous year; the allowance-to-loan ratio was 3.90%, up by 0.53 percentage point as compared with the end of the previous year

Re-disseminated by The Asian Banker