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<Research> CLSA: CM BANK (03968.HK) 1Q26 Results Mixed; Wealth Mgmt Income and NIM Beat
CLSA published a research report stating that CM BANK (03968.HK) delivered mixed results in 1Q26. Wealth management income and NIM beat expectations, but fee income and capital per...
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<Research> CLSA: CM BANK (03968.HK) 1Q26 Results Mixed; Wealth Mgmt Income and NIM Beat
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CLSA published a research report stating that CM BANK (03968.HK)  -2.120 (-4.232%)    Short selling $893.53M; Ratio 38.864%   delivered mixed results in 1Q26. Wealth management income and NIM beat expectations, but fee income and capital performance were weak. During the period, operating income rose 3.5% YoY, pre-provision operating profit increased 4.2% YoY, and net profit grew 1.5% YoY, slightly missing expectations.

The broker noted that the number of CM BANKs Golden Sunflower tier or above customers increased 4.8% QoQ, higher than the 1.3% growth in overall retail customers, sending a positive signal for future fee income.

Related News Citi: CM BANK (03968.HK) 1Q26 Results Disappoint; Net Profit Growth May Lag Six Major State-owned Banks
In addition, credit card fee income fell 12% YoY, weighing on overall net fee income growth. Retail credit demand remained weak, with retail loan balance contracting 1% QoQ. However, total loans grew 2.8% QoQ. The broker considers its full-year loan growth guidance of 6% to 7% achievable.(sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-29 16:25.)



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.

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