3 6 Ke·2026-03-31 12:06Core Viewpoint - After two consecutive years of revenue decline, China Merchants Bank (CMB) has reported a slight revenue increase in 2025, marking a turnaround in its financial performance [1]. Financial Performance - In 2025, CMB achieved operating revenue of 337.53 billion yuan, a year-on-year increase of 0.01%, and a net profit attributable to shareholders of 150.18 billion yuan, up 1.21% year-on-year [1]. - The bank's cash dividend for the year is set at 2.016 yuan per share, with total cash dividends amounting to approximately 50.84 billion yuan, resulting in a cash dividend ratio of 35.34% [2]. Retail Banking Challenges - CMB's retail financial business faced significant challenges, with a pre-tax profit of 87.42 billion yuan in 2025, down 0.65% year-on-year, and retail financial revenue of 185.29 billion yuan, a decrease of 3.74% [3]. - Credit card transactions fell by over 330 billion yuan to 4.08 trillion yuan, a decline of 7.62% compared to 2024, with interest income from credit cards decreasing by 7.30% and non-interest income dropping by 15.73% [3]. Asset Quality and Risk Management - As of the end of 2025, CMB's retail non-performing loan balance increased to 39.58 billion yuan, with a non-performing loan ratio of 1.06%, up 0.10 percentage points from the previous year [4]. - The bank plans to optimize its business structure by focusing on mortgage-related businesses and enhancing risk management strategies to improve the quality of retail credit assets [5]. Strategic Development - CMB is implementing a strategy of balanced and coordinated development across four major business segments: retail finance, corporate finance, investment banking and financial markets, and asset and wealth management [6]. - The bank's total assets reached 13.07 trillion yuan, with a year-on-year growth of 7.56%, and corporate loans increased by 13.10% to 2.93 trillion yuan [6]. - CMB is shifting its focus from major cities to key regions such as the Yangtze River Delta, Greater Bay Area, and Bohai Rim for future growth [7].