Zheng Quan Shi Bao Wang·2025-10-29 10:56Core Insights - The core viewpoint of the article highlights that China Merchants Bank (招商银行) reported a slight decline in operating income for the first three quarters of 2025, while net profit showed a modest increase, indicating a stabilization in financial performance [1] Financial Performance - For the first three quarters, the bank achieved operating income of 251.42 billion yuan, a year-on-year decrease of 0.5%, with the decline rate narrowing quarter by quarter [1] - The net profit attributable to shareholders increased by 0.5% to 113.77 billion yuan [1] Fee and Commission Income - The bank's net fee and commission income reached 56.2 billion yuan, reflecting a year-on-year growth of 0.9%, marking a turnaround from negative growth [1] - Wealth management fee and commission income grew by 18.8%, while custody business commission income increased by 6.7%, both surpassing the growth rates from the first half of the year [1] - The decline in asset management fee and commission income showed significant improvement compared to the first half of the year [1] Retail Customer Growth - As of the end of September, the bank's retail customer base reached 220 million, representing a growth of 4.8% since the beginning of the year [1] - Retail Assets Under Management (AUM) grew by 11.2% to 16.6 trillion yuan, achieving the highest growth rate for the same period in nearly four years [1] - The number of customers in the bank's premium service categories, including "Golden Sunflower" and private banking, saw an increase of over 10% [1]