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Bank sees rate hikes to boost margin

Business | Banking
2009-9-1

CHINA Merchants Bank expects its net interest margin to recover rapidly when interest rates in the country start to increase, senior bankers said yesterday. The bank was hit hard by its debt allocation in the first...

China Merchants Bank H1 net profit drops 37.62%

Business | Banking
2009-8-29

CHINA Merchants Bank (CMB), the country's sixth largest lender, had a net profit of 8.26 billion yuan (US$120.9 million) in the first half of this year. The profit represents a drop of 4.98 billion yuan, or 37.62...

CMB plans to double private banking network

Business | Banking
2009-7-21

CHINA Merchants Bank plans to nearly double its high-end private banking network in China this year on the back of country's recovering economic growth. The Shenzhen-based bank plans to open seven centers for...

CMB opens London rep office

Business | Banking
2009-7-17

CHINA Merchants Bank opened its representative office in London yesterday as it made its first step to tap the European market. "We are glad to pick London as our headquarters for the European market," said Ma...

China Merchants Bank's profit up 38% in 2008

Business | Banking
2009-4-25

THE net profit of China Merchants Bank, the nation's fifth largest bank by market value, rose 38.27 percent to 21.08 billion yuan (US$3.1 billion) in 2008 from a year ago, according to its annual report released today....

Credit line to ease M&A deals

Business | Banking
2009-4-21

CHINA Merchants Bank yesterday signed an agreement with Shanghai United Assets and Equity Exchange for an annual credit line of 5 billion yuan (US$732 million) to smooth merger and acquisition deals. The Shanghai...

Banking on profit

Business | Banking
2009-4-11

CHINA Merchants Bank's net profit last year rose 38.27 percent to 21.08 billion yuan (US$3.08 billion). The nation's sixth-largest lender said profit growth for the first nine months of the past year was 90 percent....

Another 20,000 set to hit rich list by year end

Business | Macro-economy and policy
2009-3-31

CHINA is expected to see another 20,000 high net worth individuals with an investable asset of more than 10 million yuan (US$1.46 million) each this year despite the economic slowdown, a report said yesterday. The...

China Merchants Bank offers 30b yuan in credit to airlines

Business | Airlines and airports
2009-3-14

DOMESTIC carriers will be given a 30-billion-yuan (US$4.39 billion) credit line from China Merchants Bank in the country's latest effort to help the ailing sector survive. The Civil Aviation Administration of...

Chinese banks to see greatly lower net

Business | Banking
2009-2-4

CHINESE banks will report "substantially" slower profit growth in 2009 because of weaker loan demand, narrower margins and rising credit costs, according to China Merchants Bank Co President Ma Weihua. China Merchants...