Bank of China International published a research report stating that China Merchants Bank's profit declined slightly in the first quarter of the 2025 fiscal year, as CMB continued to provide strong financial support to the real economy. Net profit attributable for the period decreased by 2.1% year-on-year, and increased by 1.2% year-on-year in 2024. At the same time, CMB maintained excellent asset quality, the non-performing loan ratio declined, and provision for non-performing loans remained at a high level during the quarter. The bank mentioned that CMB maintained strong competitiveness in the retail business market, and its high-end customers continued to grow in the first quarter of this year. By the end of March this year, the total number of retail customers of China Merchants Bank reached 212 million, an increase of 1% over the end of December last year; the total asset management balance of retail customers reached 15.57 trillion yuan, an increase of 4.3% over the end of December last year. The bank believes that CMB will maintain the highest return on equity among its peers and maintain a “buy” rating this year. The target price was lowered from HK$54.22 to HK$53.82.

Bank of China International published a research report stating that China Merchants Bank's profit declined slightly in the first quarter of the 2025 fiscal year, as CMB continued to provide strong financial support to the real economy. Net profit attributable for the period decreased by 2.1% year-on-year, and increased by 1.2% year-on-year in 2024. At the same time, CMB maintained excellent asset quality, the non-performing loan ratio declined, and provision for non-performing loans remained at a high level during the quarter. The bank mentioned that CMB maintained strong competitiveness in the retail business market, and its high-end customers continued to grow in the first quarter of this year. By the end of March this year, the total number of retail customers of China Merchants Bank reached 212 million, an increase of 1% over the end of December last year; the total asset management balance of retail customers reached 15.57 trillion yuan, an increase of 4.3% over the end of December last year. The bank believes that CMB will maintain the highest return on equity among its peers and maintain a “buy” rating this year. The target price was lowered from HK$54.22 to HK$53.82.