China Merchants Bank (CM Bank) released its unaudited 2026 interim results, showing steady growth across core metrics despite a softer earnings momentum.
CM Bank’s net profit attributable to shareholders reached RMB 76.45 billion, up 2.02% year-on-year, while net operating income rose 4.83% to RMB 178.14 billion. Net interest income increased 5.60% to RMB 112.02 billion; net non-interest income advanced 3.56% to RMB 66.11 billion. The bank’s annualised return on average equity slipped 0.43 percentage points to 13.42%, and return on average assets fell 0.07 percentage points to 1.14%.
Total assets expanded 5.47% from end-2025 to RMB 13.79 trillion. Loans and advances grew 2.69% to RMB 7.45 trillion, while customer deposits increased 3.32% to RMB 10.16 trillion. Asset quality remained stable: the non-performing loan ratio held at 0.94%, and the allowance coverage ratio stood at 385.10%.
Capital buffers stayed strong. Under the advanced measurement approach, CM Bank posted a common-equity tier 1 ratio of 14.07%, a tier 1 ratio of 16.59% and a total capital adequacy ratio of 18.33%. The leverage ratio measured 7.94%. Average second-quarter liquidity coverage ratio was 179.96%, and the net stable funding ratio reached 141.95%.
Retail banking contributed 54% of net operating income and 47% of pre-tax profit; wholesale banking delivered 42% of revenue and 50% of pre-tax profit. The bank’s green loan book closed at RMB 655.88 billion, up 7.63% from year-end, while manufacturing loans rose 10.68% to RMB 811.97 billion.
CM Bank redeemed RMB 27.50 billion of 2017 domestic preference shares in April and issued RMB 50 billion of new perpetual bonds, lifting other-equity instruments on the balance sheet to RMB 199.99 billion.
Shareholders approved an interim cash dividend equal to 35% of first-half net profit, with payment scheduled between January and February 2027; the precise record and payment dates will be announced separately.
Management reiterated its commitment to “balanced growth, prudent risk control and digital transformation,” highlighting plans to deepen green finance, inclusive finance and technology-driven initiatives in the second half of 2026.