China Merchants Bank Sees Record-breaking Profit Growth in 2021

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Shenzhen-based commercial lender China Merchants Bank (CMB) posted record-growth in net profits in 2021.

CMB saw operating revenues of 331.25 billion yuan in 2021 for year-on-year (YoY) growth of 14.04%, according to its annual report released on 18 March.

Net profits attributable to bank shareholders were 119.922 billion yuan, for YoY growth of 23.20%, and the largest increase on record.

As of the end of 2021 CMB’s non-performing loan ratio (NPL) was 0.91%, while its provisions coverage ratio was 483.87%, for an increase of 46.19 percentage points compared to the end of 2020.

The core tier-1 capital adequacy ratio was 12.66%, for an increase of 0.37 percentage points compared to the end of 2020, while the tier-1 capital adequacy ratio was 14.94%, for an increase of 0.96 percentage points, and the capital adequacy was 17.48%, for a rise of 0.94 percentage points.

CMB’s 2021 profit allocation plan outlines a dividend of 1.522 yuan per share.