Nan Fang Du Shi Bao·2025-10-29 11:42Core Insights - The core viewpoint of the article is that China Merchants Bank (CMB) has shown resilience in its business performance despite a slight decline in overall revenue, with notable growth in wealth management fees and a stable net profit increase [2][3]. Financial Performance - For the first three quarters of 2025, CMB reported operating income of 251.42 billion yuan, a year-on-year decrease of 0.51% [2]. - The net profit attributable to shareholders reached 113.77 billion yuan, reflecting a year-on-year growth of 0.52% [2]. - Net interest income was 160.04 billion yuan, up 1.74% year-on-year, accounting for 63.66% of total operating income [3]. - The net interest margin was 1.77%, and the net interest yield was 1.87%, both down by 10 and 12 basis points year-on-year, respectively [3]. Wealth Management and Non-Interest Income - Wealth management fees and commissions saw a significant increase of 18.76%, with total non-interest income at 91.38 billion yuan, down 4.23% year-on-year [4]. - Within non-interest income, net fees and commissions were 56.20 billion yuan, up 0.90% year-on-year, while other net income decreased by 11.42% to 35.18 billion yuan [4]. Retail Business and Customer Base - CMB's retail customer base reached 220 million, a growth of 4.76% from the previous year, with total assets under management (AUM) of 16.60 trillion yuan, an increase of 11.19% [5]. - The number of private banking clients increased by 13.20% to 191,418 [5]. Asset Quality and Risk Management - The total assets of CMB stood at 12.64 trillion yuan, a year-on-year increase of 4.05%, with a non-performing loan (NPL) ratio of 0.94%, down 0.01 percentage points from the previous year [6]. - The bank's real estate loan balance was 280.62 billion yuan, down 57.42 billion yuan year-on-year, with an NPL ratio of 4.24%, a decrease of 0.50 percentage points [7]. - CMB actively managed non-performing assets, disposing of 47.64 billion yuan in bad loans during the first nine months of 2025 [8].