Nan Fang Du Shi Bao·2026-01-23 11:51Core Viewpoint - China Merchants Bank reported a dual growth in revenue and net profit for the year 2025, indicating a strong recovery and operational resilience in the fourth quarter [2][3]. Revenue and Profit Summary - In 2025, China Merchants Bank achieved a revenue of 337.53 billion yuan, a slight increase of 0.01% year-on-year, and a net profit of 150.18 billion yuan, up 1.21% year-on-year [2][3]. - The bank's total profit reached 178.99 billion yuan, reflecting a year-on-year increase of 3.41% [3]. - The bank's revenue growth turned positive in the fourth quarter after experiencing a decline of 0.51% in the first three quarters of 2025 [3]. Asset Quality and Scale - As of December 31, 2025, China Merchants Bank's total assets amounted to 13.07 trillion yuan, an increase of 7.56% from the previous year, while total liabilities rose by 7.98% to 11.79 trillion yuan [3]. - The non-performing loan (NPL) ratio stood at 0.94%, a decrease of 0.01 percentage points from the previous year, and the provision coverage ratio was 391.79%, down 20.19 percentage points [3][7]. Comparison with Peers - Among the four listed joint-stock banks, China Merchants Bank led in revenue, net profit, total assets, and maintained the lowest NPL ratio [5][6]. - Other banks such as Industrial Bank, CITIC Bank, and Pudong Development Bank also reported growth in revenue and net profit, with Pudong Development Bank showing the highest net profit growth rate of 10.52% [6][8]. Industry Context - The stable performance of these leading banks is attributed to improved interest margins and declining credit costs, which are expected to support broader banking performance [8].