Cai Jing Wang·2026-03-27 22:09Core Insights - The core viewpoint of the report is that China Merchants Bank achieved modest growth in revenue and net profit for the year 2025, despite a decline in non-interest income and some deterioration in asset quality indicators [1] Financial Performance - The group reported total operating income of 337.53 billion yuan, a year-on-year increase of 0.01% [1] - Net interest income reached 215.59 billion yuan, growing by 2.04% year-on-year [1] - Non-interest income was 121.94 billion yuan, showing a decline of 3.38% compared to the previous year [1] - The net profit attributable to shareholders was 150.18 billion yuan, reflecting a year-on-year growth of 1.21% [1] - Return on average total assets (ROAA) was 1.19%, down by 0.09 percentage points year-on-year [1] - Return on average equity (ROAE) was 13.44%, decreasing by 1.05 percentage points year-on-year [1] Asset and Liability Overview - As of the end of 2025, total assets amounted to 13.07 trillion yuan, an increase of 7.56% from the previous year [1] - Total loans and advances reached 7.26 trillion yuan, growing by 5.37% year-on-year [1] - Total liabilities were 11.79 trillion yuan, up by 7.98% compared to the previous year [1] - Customer deposits totaled 9.84 trillion yuan, reflecting an increase of 8.13% year-on-year [1] Asset Quality - The non-performing loan balance stood at 68.21 billion yuan, an increase of 2.60 billion yuan from the previous year [1] - The non-performing loan ratio was 0.94%, a slight decrease of 0.01 percentage points year-on-year [1] - The provision coverage ratio was 391.79%, down by 20.19 percentage points compared to the previous year [1] - The loan provision ratio was 3.68%, decreasing by 0.24 percentage points year-on-year [1]