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CM BANK (03968.HK) 1Q Net Profit RMB37.852B +1.5% YoY
Recommend 10 Positive 16 Negative 7 |
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CM BANK (03968.HK) announced its first-quarter results, reporting net operating income of RMB86.952 billion, up 3.9% YoY. Net profit attributable to shareholders reached RMB37.852 billion, up 1.5%, with EPS of RMB1.49. Profit before tax was RMB44.677 billion, up 1% YoY. During the quarter, net interest income was RMB55.642 billion, up 5% YoY. Net interest spread was 1.77% and NIM was 1.83%, down 5 bps and 8 bps YoY, and down 2 bps and 3 bps QoQ, respectively. The declines were mainly due to loan repricing, coupled with insufficient effective credit demand and a lower proportion of retail loans, leading to a decrease in yield on interest-earning assets. Net non-interest income was RMB31.31 billion, up 1.9% YoY. Among which, net fee and commission income was RMB20.656 billion, up 4.9% YoY, while other net non-interest income was RMB10.654 billion, down 3.5% YoY, mainly due to a decrease in bond investment spread income. As of end-March, non-performing loan balance was RMB69.858 billion, an increase of RMB1.652 billion from the beginning of the year. The NPL ratio was 0.94%, flat compared with the beginning of the year. The provision coverage ratio was 387.76%, down 4.03 ppts, while the loan provision ratio was 3.63%, down 0.05 ppts. This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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