Xu Mingjie, deputy governor and chief risk officer of China Merchants Bank, said at the bank's 2026 interim results conference that the balance of CMB retail loans in the first half of the year was 42,832 billion yuan, an increase of 3,248 billion yuan over the beginning of the year. The NPL ratio was 1.16%, up 0.10 percentage points from the beginning of the year. Xu Mingjie analyzed that in the current context of economic structural transformation and real estate market adjustments, the ability and willingness of some customers to repay is still being affected to a certain extent. Combined with the risk of shared debt in the consumer credit market, we judge that the risk of retail loans is still rising. We have also taken more active measures to control the quality of retail loans. One is to adjust retail credit growth targets and development strategies in a timely manner according to the retail loan market conditions, and pay more attention to controlling poor production and strengthening risk mitigation in terms of assessments and incentives.

Xu Mingjie, deputy governor and chief risk officer of China Merchants Bank, said at the bank's 2026 interim results conference that the balance of CMB retail loans in the first half of the year was 42,832 billion yuan, an increase of 3,248 billion yuan over the beginning of the year. The NPL ratio was 1.16%, up 0.10 percentage points from the beginning of the year. Xu Mingjie analyzed that in the current context of economic structural transformation and real estate market adjustments, the ability and willingness of some customers to repay is still being affected to a certain extent. Combined with the risk of shared debt in the consumer credit market, we judge that the risk of retail loans is still rising. We have also taken more active measures to control the quality of retail loans. One is to adjust retail credit growth targets and development strategies in a timely manner according to the retail loan market conditions, and pay more attention to controlling poor production and strengthening risk mitigation in terms of assessments and incentives.