Core Viewpoint - The first quarter report of China Merchants Bank (CMB) shows a decline in both revenue and net profit, but there are signs of recovery in wealth management fees, indicating a potential stabilization in the bank's financial performance [1][4]. Financial Performance - CMB reported operating revenue of 83.751 billion yuan, a year-on-year decrease of 3.09%, and net profit of 37.513 billion yuan, down 2.08% [1]. - The non-performing loan ratio decreased by 0.01 percentage points to 0.94% compared to the end of the previous year [1]. - The net interest margin (NIM) fell to 1.91%, down 11 basis points year-on-year and 3 basis points quarter-on-quarter [1][2]. Wealth Management and Non-Interest Income - Non-interest net income was 30.755 billion yuan, a year-on-year decrease of 10.64%, accounting for 36.72% of total revenue [4]. - Wealth management fees showed improvement, with a 10.45% year-on-year increase in wealth management commission income to 6.783 billion yuan, reversing a previous decline [4][5]. - The bank's commission income from selling financial products, such as wealth management and insurance, remains under pressure due to market conditions [5][6]. Deposit Composition and Strategy - The proportion of demand deposits increased to 51.80%, with corporate demand deposits making up 58.06% and retail demand deposits 41.94% [2]. - The average daily balance of demand deposits accounted for 50.46% of the average daily balance of customer deposits, reflecting a slight increase from the previous year [2]. Market Activity and Shareholder Engagement - The Hong Kong Central Clearing Limited account increased its holdings of CMB shares by approximately 128 million shares during the first quarter [7]. - CMB's average return on total assets (ROAA) and average return on equity (ROAE) were 1.21% and 14.13%, respectively, both showing a year-on-year decline [7]. Management Outlook - CMB's management aims to stabilize the net interest margin and improve the commission income from wealth management, contingent on the overall stabilization of the capital market [6][7]. - The bank is cautious about increasing dividends to maintain a balance between return on equity and capital adequacy [7].

Group 1 - The core viewpoint of the report indicates that China Merchants Bank experienced a decline in both operating income and net profit for Q1 2025 compared to the previous year, with operating income at 83.751 billion yuan, down 3.09%, and net profit at 37.286 billion yuan, down 2.08% [1] - The bank's net interest income increased by 1.92% year-on-year, reaching 52.996 billion yuan, while non-interest income saw a significant decline of 10.64%, totaling 30.755 billion yuan [1] - As of the end of Q1 2025, the total assets of China Merchants Bank reached 12.529 trillion yuan, a growth of 3.11% from the end of the previous year, with total loans and advances at 7.125 trillion yuan, up 3.44% [1] Group 2 - The bank's non-interest income accounted for 36.72% of total operating income, with net fee and commission income at 19.696 billion yuan, down 2.51% year-on-year, while other net income fell by 22.19% to 11.059 billion yuan, primarily due to the impact of rising market interest rates on the fair value of bond and fund investments [1] - In terms of asset quality, as of the end of Q1 2025, the non-performing loan balance was 66.743 billion yuan, an increase of 1.133 billion yuan from the end of the previous year, with a non-performing loan ratio of 0.94%, a slight decrease of 0.01 percentage points [2] - The bank's provision coverage ratio stood at 410.03%, down 1.95 percentage points from the end of the previous year, and the loan provision ratio was 3.84%, down 0.08 percentage points [2]

1. 引言 1.1 披露依据 本报告根据国家金融监督管理总局令第4号《商业银行资本管理办法》及相 关规定编制并披露。 1.2 并表范围 CHINA MERCHANTS BANK CO., LTD. | 1. | 引言 3 | | --- | --- | | 1.1 | 披露依据 3 | | 1.2 | 并表范围 3 | | 1.3 | 披露声明 3 | | 2. | 释义 4 | | 3. | 风险管理、关键审慎监管指标和风险加权资产概览 5 | | 3.1 | KM1 监管并表关键审慎监管指标 5 | | 3.2 | OV1 风险加权资产概况 6 | | 4. | 宏观审慎监管措施 8 | | 4.1 | 8 | | 5. | 杠杆率 8 | | 5.1 | LR1 杠杆率监管项目与相关会计项目的差异 8 | | 5.2 | LR2 杠杆率 9 | | 6. | 流动性风险 10 | | 6.1 | LIQ1 流动性覆盖率 10 | 招商银行股份有限公司 2025 年第一季度第三支柱报告 根据《商业银行资本管理办法》相关规定，本集团资本监管指标计算范围 包括招商银行及其子公司。截至报告期末，本集团符合资本并 ...

A 股简称:招商银行 A 股代码:600036 公告编号:2025-019 招商银行股份有限公司 监事会决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 招商银行股份有限公司（简称本公司或招商银行）于 2025 年 4 月 11 日以电 子邮件方式发出第十二届监事会第三十九次会议通知，于 4 月 29 日以书面传签 方式召开会议。会议应表决监事 8 名，实际表决监事 8 名，总有效表决票为 8 票。 会议的召开符合《中华人民共和国公司法》和《招商银行股份有限公司章程》等 有关规定。 会议审议通过了以下议案： 一、审议通过了 2025 年第一季度报告，并出具如下意见： （一）本公司 2025 年第一季度报告的编制和审议程序符合有关法律法规、 《招商银行股份有限公司章程》和本公司相关内部管理制度的规定； （二）本公司 2025 年第一季度报告的内容与格式符合中国证券监督管理委 员会和证券交易所的相关规定，真实、准确、完整反映本公司报告期内的经营管 理情况和财务状况； （三）截至本意见出具前，未发现参与 2025 年第一季度 ...

A 股简称：招商银行 A 股代码：600036 公告编号：2025-018 招商银行股份有限公司 董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 招商银行股份有限公司（简称本公司或招商银行）于 2025 年 4 月 11 日以电 子邮件方式发出第十二届董事会第四十九次会议通知，于 4 月 29 日以书面传签 方式召开会议。会议应参会董事 14 名，实际参会董事 14 名。会议的召开符合《中 华人民共和国公司法》和《招商银行股份有限公司章程》等有关规定。 会议审议通过了以下议案： 一、审议通过了本公司 2025 年第一季度报告。 同意：14 票 反对：0 票 弃权：0 票 本公司董事会审计委员会已审议通过上述议案，并同意将其提交本公司董事 会审议。 二、审议通过了《2025 年第一季度第三支柱报告》。 同意：14 票 反对：0 票 弃权：0 票 本公司2025年第一季度报告和2025年第一季度第三支柱报告详见上海证券 交 易 所 网 站 （ www.sse.com.cn ）、 香 港 交 易 及 结 算 所 有 ...

Group 1 - The core viewpoint is that seven major banks in China have decided to abolish their supervisory boards, reflecting a significant transformation in the banking sector in response to regulatory changes [1][2] - The banks involved include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China Merchants Bank, and Huaxia Bank, all of which have passed resolutions to eliminate their supervisory boards [1] - The decision aligns with the revised Company Law of the People's Republic of China, effective July 2024, which allows companies to establish an audit committee within the board of directors to perform the functions of a supervisory board [2] Group 2 - The National Financial Regulatory Administration issued a notice in December 2024, indicating that financial institutions can set up an audit committee within the board to exercise the powers of a supervisory board, thereby eliminating the need for a supervisory board [2] - This regulatory change is expected to reduce management costs and enhance the flexibility and effectiveness of corporate governance in the banking sector [2]

Financial Performance - Net profit attributable to shareholders decreased by 2.08% to RMB 37,286 million for Q1 2025, down from RMB 38,077 million in Q1 2024[4] - Operating income for Q1 2025 was RMB 83,751 million, representing a decline of 3.09% from RMB 86,417 million in the same period last year[4] - Basic and diluted earnings per share for ordinary shareholders were both RMB 1.48, a decrease of 1.99% from RMB 1.51 in Q1 2024[4] - The annualized return on average equity for ordinary shareholders decreased by 1.95 percentage points to 14.13% compared to 16.08% in the previous year[4] - The company's equity attributable to ordinary shareholders increased by 1.65% to RMB 1,246,207 million from RMB 1,226,014 million at the end of 2024[4] - The company's average return on total assets (ROAA) was 1.21%, down 0.14 percentage points year-on-year[14] - The average return on equity (ROAE) was 14.13%, a decrease of 1.95 percentage points year-on-year[14] - The total comprehensive income for Q1 2025 was RMB 15,796 million, down from RMB 38,893 million in Q1 2024, representing a decline of 59.5%[62] Asset and Liability Management - Total assets increased by 3.11% to RMB 12,529,792 million as of March 31, 2025, compared to RMB 12,152,036 million at the end of 2024[4] - As of March 31, 2025, total liabilities amounted to RMB 11,275,928 million, an increase from RMB 10,918,561 million as of December 31, 2024, representing a growth of approximately 3.3%[53] - The bank's total liabilities increased by RMB 357,367 million from December 31, 2024, to March 31, 2025, primarily driven by an increase in customer deposits and borrowings[56] - The total amount of qualified high-quality liquid assets was RMB 2,386,393 million, with a net cash outflow of RMB 1,451,642 million[72] Cash Flow Analysis - Net cash flow from operating activities significantly improved to RMB 95,026 million, compared to a negative RMB 1,208 million in Q1 2024[4][7] - The net cash flow from investing activities for Q1 2025 was a net outflow of RMB 199,933 million, compared to a net inflow of RMB 1,119 million in Q1 2024[65] - The net cash flow from financing activities for Q1 2025 was a net outflow of RMB 48,655 million, contrasting with a net inflow of RMB 129,954 million in Q1 2024[65] - The cash flow from financing activities in Q1 2025 showed a net outflow of RMB 55,604 million, compared to a net inflow of RMB 133,765 million in Q1 2024[68] Loan and Deposit Performance - Total loans and advances were 7,125.479 billion yuan, up 3.44% from the previous year-end[16] - Customer deposits totaled RMB 9,319.462 billion, up 2.45% year-on-year, with retail customer deposits increasing by 3.51%[26] - The net increase in customer deposits for Q1 2025 was RMB 222,875 million, compared to RMB 284,662 million in Q1 2024, indicating a decrease of 21.7%[64] - The company's overdue loan balance was RMB 98.325 billion, an increase of RMB 6.450 billion, with an overdue loan ratio of 1.38%, up 0.05 percentage points[31] Risk Management and Non-Performing Loans - The company's provision coverage ratio was 410.03%, down 1.95 percentage points from the previous year-end[16] - The company's non-performing loan balance was 66.743 billion yuan, with a non-performing loan ratio of 0.94%, a decrease of 0.01 percentage points year-on-year[16] - The company generated new non-performing loans of RMB 16.652 billion during the reporting period, an increase of RMB 0.387 billion year-on-year, with an annualized NPL generation rate of 1.00%, down 0.03 percentage points[37] - The company’s loan loss provision balance was RMB 263.063 billion, an increase of RMB 3.178 billion, with a provision coverage ratio of 420.54%, down 4.69 percentage points[38] Strategic Initiatives - The company aims to balance quality, efficiency, and scale in its strategic goal of becoming a "value bank"[14] - The company plans to enhance support for "white list" projects in real estate financing, focusing on risk management and compliance[29] - The company has implemented a dynamic rebalancing strategy focusing on industry, region, and customer groups to optimize asset allocation and enhance risk management[39] - The company plans to enhance its market expansion strategies and invest in new technologies to drive future growth[61]

｜广告｜ 星巴克联名卡 新户达标领6杯星巴克咖啡 或定制杯一个(颜色随机) 星座守护卡 HoT 新户达标领品牌拉杆箱 等好礼多选一 宝可梦粉丝卡 新户达标领创意甜筒杯 等好礼多选一 点击申请 点击申请 官京乐 京东联名卡 新户达标领京东PLUS会员 年卡 点击申请 点击申请 查看更多卡片 持卡精彩权益 吃大餐 周三5折享美食 享好礼 积分可兑缤纷好礼 已持卡人加办信用卡 若您已持有招商银行信用卡，可戳此链接加办。加办的信用卡，额度 与已持有的信用卡共享，且不享有新户礼。 查看活动细则 想申请其他信用卡? 点击"阅读原文"即可快速浏览 长按识别 招商银行App官方微信 支付、理财、借钱,一个App "收藏"也点下 点点"赞" 点点"分享" ...

Financial Performance - Net profit attributable to shareholders for Q1 2025 was RMB 37,286 million, a decrease of 2.08% year-on-year[7]. - Operating income for Q1 2025 was RMB 83,731 million, down 3.11% from RMB 86,420 million in Q1 2024[7]. - Basic and diluted earnings per share for Q1 2025 were both RMB 1.48, a decline of 1.99% compared to RMB 1.51 in the same period last year[7]. - The weighted average return on equity for Q1 2025 was 14.13%, down 1.95 percentage points from 16.08% in Q1 2024[7]. - Net profit for Q1 2025 was RMB 37,513 million, down from RMB 38,442 million in Q1 2024, a decline of 2.4%[50]. - Total operating income for Q1 2025 was RMB 82,892 million, compared to RMB 85,674 million in Q1 2024, reflecting a decrease of 3.3%[49]. Assets and Equity - Total assets as of March 31, 2025, reached RMB 12,529,792 million, an increase of 3.11% compared to the end of 2024[7]. - Total equity attributable to shareholders as of March 31, 2025, was RMB 1,246,207 million, reflecting a 1.65% increase from RMB 1,226,014 million at the end of 2024[7]. - Total assets reached CNY 12,529.792 billion, an increase of 3.11% from the end of the previous year[16]. - The group's equity attributable to shareholders rose by 1.65% to RMB 12.462 trillion, with retained earnings increasing by 5.85% to RMB 6.712 trillion[27]. Cash Flow - Net cash flow from operating activities for Q1 2025 was RMB 95,026 million, significantly improved from a negative RMB 1,208 million in Q1 2024[7][9]. - The net cash outflow from investment activities in Q1 2025 was RMB 199,933 million, compared to a positive cash flow of RMB 1,119 million in Q1 2024[54]. - The total cash inflow from financing activities in Q1 2025 was negative at RMB 48,655 million, contrasting with a positive inflow of RMB 129,954 million in Q1 2024[54]. - The company reported cash and cash equivalents of RMB 602,891 million as of March 31, 2025, down from RMB 729,079 million at the end of Q1 2024[54]. Loans and Deposits - Total loans and advances amounted to CNY 7,125.479 billion, growing by 3.44% compared to the previous year-end[16]. - Customer deposits totaled CNY 9,319.462 billion, reflecting a 2.45% increase from the previous year-end[16]. - Retail loans increased by RMB 139.53 billion to RMB 36.586 trillion, reflecting a 0.38% growth, supported by a gradual recovery in consumer spending[25]. - Customer deposits reached RMB 9,406,230 million, an increase from RMB 9,195,329 million at the end of 2024[52]. Non-Performing Loans - Non-performing loan balance was CNY 66.743 billion, an increase of CNY 1.133 billion from the previous year-end[17]. - Non-performing loan ratio stood at 0.94%, a decrease of 0.01 percentage points from the previous year-end[17]. - The total non-performing loan balance is CNY 66.743 billion, an increase of CNY 1.133 billion, with a non-performing loan ratio of 0.94%, a decrease of 0.01 percentage points[30]. - The balance of overdue loans is CNY 98.325 billion, an increase of CNY 6.450 billion, with an overdue loan ratio of 1.38%, an increase of 0.05 percentage points[30]. Risk Management - The company will continue to support "white list" projects and strengthen risk management and post-loan management[29]. - The company aims to maintain overall stability in the quality of real estate assets while adhering to compliance and risk control principles[29]. - The company plans to enhance risk management sensitivity and proactive measures in response to the complex external economic environment[37]. Interest Income and Expenses - Net interest income was CNY 52.996 billion, an increase of 1.92% year-on-year[16]. - In Q1 2025, the group achieved net interest income of RMB 52.996 billion, a year-on-year increase of 1.92%, accounting for 63.29% of operating income[18]. - The net interest margin decreased to 1.82%, and the net interest yield fell to 1.91%, down 8 basis points and 11 basis points year-on-year, respectively[18]. - The company received interest income of RMB 67,856 million in Q1 2025, compared to RMB 72,745 million in Q1 2024[54]. Customer Base - The number of ordinary shareholders as of the report date was 434,959, with 407,926 A-share shareholders and 27,033 H-share shareholders[10]. - The number of retail customers reached 212 million, an increase of 0.95% compared to the end of last year[47]. - The number of high-net-worth clients (with average total assets of RMB 500,000 or more) increased to 5.4747 million, a growth of 4.56% year-over-year[47].

招商银行（600036）公告，2025年第一季度营业收入为837.51亿元，同比下降3.09%；净利润为372.86 亿元，同比下降2.08%。 ...