China Merchants Bank posts 6.2% profit uptick in 2023 despite revenue decline

The property crisis and policy measures will continue to pressure the bank’s revenue throughout 2024, said CMB’s board members during a press conference.

Ryan Li

April 02, 2024

China Merchants Bank (CMB) shrugged off a 1.64% year-on-year drop in revenue to Rmb339.1 billion ($46.9 billion), to post a 6.2% increase in after tax profit of Rmb146.6 billion, in its 2023 annual results, from January 1 to December 31 (FY 2023).

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