Core Viewpoint - China Merchants Bank's revenue and net profit showed signs of improvement in the first half of the year, despite a decline in revenue compared to the previous year and the first quarter of this year [1][3]. Financial Performance - For the first half of the year, the bank's operating income was 169.96 billion yuan, a year-on-year decrease of 1.72%, while net profit was 74.93 billion yuan, a year-on-year increase of 0.25 [3]. - The bank's total assets reached 12.65 trillion yuan by the end of June, growing by 4.16% from the end of last year [2]. - The loan balance and deposit balance were 7.12 trillion yuan and 9.42 trillion yuan, respectively, with increases of 3.31% and 3.58% compared to the end of last year [2]. Revenue and Interest Income - The decline in revenue was attributed to a slowdown in interest income growth, with interest income and net interest income at 177.01 billion yuan and 106.08 billion yuan, respectively, showing a year-on-year decrease of 5.84% and an increase of 1.57% [3][4]. - The bank's net interest margin and net interest yield were 1.79% and 1.88%, respectively, both down year-on-year [4]. Retail Business Performance - Despite pressures in the retail banking sector, China Merchants Bank's retail loan balance, revenue, and pre-tax profit all increased, with retail loan balance reaching 3.61 trillion yuan, a growth of 0.94% from the end of last year [5][6]. - Retail revenue was 96.19 billion yuan, a year-on-year increase of 0.26%, accounting for 56.59% of total revenue [6]. Asset Quality - The bank's non-performing loan (NPL) balance was 66.37 billion yuan, with an NPL ratio of 0.93%, slightly down from the end of last year [6][7]. - The retail NPL balance was 37.71 billion yuan, with a ratio of 1.03%, which increased compared to the end of last year [7].