April 29, 2020 / 9:40 AM / a month ago

BRIEF-China Merchants Bank Posts Qtrly Net Operating Income RMB 76,372 Million

April 29 (Reuters) - China Merchants Bank Co Ltd :

* CHINA MERCHANTS BANK CO LTD - QTRLY NET OPERATING INCOME RMB 76,372 MILLION VERSUS RMB 68,754 MILLION

* CHINA MERCHANTS BANK CO LTD- AS AT MAR 31, TIER 1 CAPITAL ADEQUACY RATIO 11.94%

* CHINA MERCHANTS BANK CO LTD - AT END OF MARCH, NON-PERFORMING LOAN RATIO WAS 1.11%

* CHINA MERCHANTS BANK CO LTD - QTRLY NET PROFIT ATTRIBUTABLE RMB 27,795 MILLION VERSUS RMB 25,240 MILLION

* CHINA MERCHANTS BANK CO LTD- QTRLY NET INTEREST MARGIN 2.56%

* CHINA MERCHANTS BANK CO LTD - Q1 NET INTEREST MARGIN OF GROUP WAS 2.56%, Y/Y DECREASE OF 16 BASIS POINTS

* CHINA MERCHANTS BANK CO LTD - EXPECTED THAT ALL-YEAR-ROUND NET INTEREST MARGIN WILL SIT BELOW LAST YEAR’S ALL-YEAR-ROUND LEVEL

* CHINA MERCHANTS BANK - EXPECTED THAT PANDEMIC MAY STILL HAVE CONTINUOUS NEGATIVE IMPACT ON SUBSEQUENT GROWTH OF RELATED INCOMES

* CHINA MERCHANTS BANK- DURING QUARTER, TRANSACTIONS SUCH AS RESIDENTS’ CONSUMPTION, PAYMENT SETTLEMENT, INSURANCE SALES WERE HAMPERED DUE TO COVID-19

* CHINA MERCHANTS BANK CO LTD - “EXPECTED THAT FORMATION OF NON-PERFORMING CORPORATE LOANS WILL PICK UP IN Q2 AS COMPARED WITH Q1”

* CHINA MERCHANTS BANK CO - “IN SECOND HALF OF YEAR, QUALITY OF CORPORATE LOAN ASSETS WILL FACE SOME PRESSURE”

* CHINA MERCHANTS BANK CO LTD - “COVID-19 PANDEMIC HAS A GREATER IMPACT ON QUALITY OF RETAIL CREDIT ASSETS”

* CHINA MERCHANTS BANK- EXPECTED THAT FROM Q2, RETAIL LOAN BUSINESS WILL FACE GREATER PRESSURE BROUGHT BY FORMATION OF NON-PERFORMING LOANS

* CHINA MERCHANTS BANK CO LTD - EXPECTED THAT RISK EXPOSED TO RETAIL LOAN BUSINESS MAY LAST FOR RELATIVELY LONG TIME

* CHINA MERCHANTS BANK- “RECOVERY OF OVERDUE LOANS HAS SHOWN A RECOVERY TREND, BUT HAS NOT FULLY RECOVERED TO LEVEL BEFORE PANDEMIC”

* CHINA MERCHANTS BANK - GROWTH IN RETAIL CUSTOMER ACQUISITION IMPROVED, BUT SUBSEQUENT GROWTH OF AUM WILL STILL FACE GREATER PRESSURE Source text for Eikon: Further company coverage:

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