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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  China Merchants Bank Co.. Ltd.    600036   CNE000001B33

CHINA MERCHANTS BANK CO.. LTD.

(600036)
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China Merchants Bank : Nine-Month Profit Edged Lower

10/30/2020 | 04:53am EST

By Yifan Wang

China Merchants Bank Co. said its net profit for the first nine months of the year edged 0.8% lower despite higher income, mainly dragged by weaker cost efficiency and higher credit losses expected.

Net profit was 76.60 billion yuan ($11.41 billion), the Chinese lender said Friday.

The lower profit came despite higher operating income, which rose 6.5% to CNY221.29 billion, mainly driven by a 11% jump in fee and commission income.

Net interest income increased 5.6% to CNY138.54 billion, the bank said. Its net interest margin was 2.51%, down 0.14 percentage point from a year earlier.

Its bad-loan ratio was 1.13% as of end-September, down 0.03 percentage point from the end of 2019.

While the company's asset-quality pressures have eased from earlier this year as China's economy recovers from the pandemic, it expects continued risks for both its corporate and retail businesses given the possibility of a second wave of infections and persistent macroeconomic weakness.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

10-30-20 0552ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA MERCHANTS BANK CO.. LTD. -0.25% 51.72 End-of-day quote.17.68%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.07% 6.4639 Delayed Quote.-0.24%
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Financials
Sales 2020 289 B 44 758 M 44 758 M
Net income 2020 94 086 M 14 563 M 14 563 M
Net Debt 2020 - - -
P/E ratio 2020 14,1x
Yield 2020 2,33%
Capitalization 1 324 B 205 B 205 B
Capi. / Sales 2020 4,58x
Capi. / Sales 2021 4,16x
Nbr of Employees 84 683
Free-Float 54,2%
Chart CHINA MERCHANTS BANK CO.. LTD.
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Technical analysis trends CHINA MERCHANTS BANK CO.. LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Average target price 49,12 CNY
Last Close Price 51,72 CNY
Spread / Highest target 37,5%
Spread / Average Target -5,03%
Spread / Lowest Target -46,0%
EPS Revisions
Managers and Directors
NameTitle
Hui Yu Tian President, CEO & Executive Director
Yuan Liu Chairman-Supervisory Board
Jian Min Miao Chairman
Liang Wang Chief Financial Officer, Executive Director & EVP
Xiao Yuan Hong Non-Executive Director
Sector and Competitors