2021-08-13 16:00Financial Performance - In the first half of 2021, China Merchants Bank reported a net profit of RMB 56.2 billion, representing a year-on-year increase of 12.5%[3] - The company reported a net profit for the first half of 2021 reached RMB 61,648 million, reflecting a 23.10% increase compared to RMB 50,078 million in the first half of 2020[17] - The company achieved operating revenue of RMB 168.749 billion in the first half of 2021, a year-on-year increase of 13.75%[34] - The net profit attributable to shareholders was RMB 61.150 billion, representing a year-on-year growth of 22.82%[34] - The pre-tax profit from retail financial services for the first half of 2021 was RMB 40.58 billion, a year-on-year increase of 19.78%, accounting for 53.17% of the group's total pre-tax profit[129] - The pre-tax profit from wholesale financial services for the first half of 2021 was RMB 31.98 billion, a year-on-year increase of 21.00%[129] - The company achieved a 37.60% year-on-year increase in asset management fee income, totaling CNY 34.860 billion, driven by growth in fund management fees[144] Asset and Liability Management - The bank's total assets reached RMB 8.5 trillion, an increase of 8.3% compared to the end of 2020[3] - Total assets as of June 30, 2021, amounted to RMB 8,885,886 million, a 6.27% increase from RMB 8,361,448 million at the end of 2020[19] - Total liabilities as of June 30, 2021, were RMB 8,124.32 billion, a 6.46% increase from RMB 7,631.09 billion at the end of 2020, primarily driven by steady growth in customer deposits[82] - Customer deposits totaled RMB 5,980,165 million as of June 30, 2021, a 6.25% increase from RMB 5,628,336 million at the end of 2020[19] - The nominal amount of interest rate derivatives was RMB 2,985.95 billion, with a fair value asset of RMB 9.40 billion and a liability of RMB (9.19) billion[72] Loan and Credit Quality - The non-performing loan (NPL) ratio stood at 1.32%, a decrease of 0.05 percentage points from the previous year[3] - The non-performing loan ratio improved to 1.01% as of June 30, 2021, down from 1.07% at the end of 2020[25] - Non-performing loans (NPL) amounted to RMB 54.54 billion, an increase of RMB 0.93 billion year-on-year, with an NPL ratio of 1.01%, down 0.06 percentage points[90] - The company achieved a credit cost of 0.56% for the first half of 2021, a significant decrease from 1.55% in the same period of 2020[26] - The balance of loan loss provisions as of June 30, 2021, was RMB 239.69 billion, an increase of RMB 5.03 billion from the end of the previous year, with a provision coverage ratio of 439.46%, up 1.78 percentage points[107] Digital Transformation and Innovation - China Merchants Bank plans to enhance its digital transformation strategy, aiming for a 30% increase in online transaction volume by the end of 2022[3] - The bank's retail customer base grew to 60 million, with a 15% increase in active users of its mobile banking app[3] - The company’s digital banking apps had a monthly active user (MAU) count of 105 million, with significant engagement in various service scenarios[139] - The company launched 192 new financial technology innovation projects during the reporting period, with a total of 2,298 projects initiated to date[170] Wealth Management and Customer Engagement - The bank is focusing on expanding its wealth management services, targeting a 20% growth in assets under management (AUM) in the next year[3] - The total retail customer base reached 165 million, with total assets under management (AUM) exceeding RMB 10 trillion[136] - The number of retail investment clients using the company's app reached 15.64 million, a year-on-year increase of 29.17%, accounting for 97.62% of total investment clients[137] - The retail wealth management fee and commission income was CNY 18.89 billion, a year-on-year increase of 32.60%, contributing 60.01% to retail net fee and commission income[176] Risk Management and Compliance - The company has implemented risk control measures in key industries, with a particular focus on the mining and real estate sectors due to rising NPL rates[97] - The company will enhance risk management in key areas such as consumer credit, real estate, and local government financing platforms[158] - The company plans to continue adjusting asset allocation flexibly in response to changes in the internal and external operating environment, focusing on supporting new growth drivers and high-quality manufacturing[151] Market Position and Recognition - The company ranked 14th in the 2021 Global Banking 1000 by The Banker, improving by 3 positions from the previous year, maintaining a top 20 position for four consecutive years[16] - In the 2021 Fortune Global 500 ranking, the company rose 27 places to 162nd[16]