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  • Dec 28, 2014
  • Updated: 11:33am

China Merchants Bank

Chong Hing sale sounds alarm bells for Hong Kong's small businesses

Chong Hing has been a witness of Hong Kong's ups and downs since it was founded in 1948.

The sale of Chong Hing Bank, one of the four remaining family-owned banks in Hong Kong, may be good news for its shareholders who can cash out at a high premium, but it is sad news to many Hongkongers when we try to find a way for the city's small businesses to prosper.

Monday, 28 October, 2013, 7:53am 4 comments

CMB purchase gives Wing Lung new lease of life

Wing Lung is now the third-largest mainland bank subsidiary in the city by asset size.

CMB acquired Wing Lung for HK$19.3 billion at a 2.9 price-book ratio. Five years on, and after meeting internal management and external economic challenges, Wing Lung has 44 branches in Hong Kong, making it the third-largest mainland bank in the city by branch network.

30 Sep 2013 - 4:00am

China Merchants up on rights issue news

Mizuho Securities upgraded Merchants Bank's rating to neutral yesterday.

China Merchants Bank's stock jumped 7.2 per cent to HK$14.24 yesterday after it was reported that the bank might announce a long-planned rights issue on Friday along with its interim results.

14 Aug 2013 - 3:19am

Merchants Bank wins nod for rights issue

At the end of last year, Merchants Bank reported a capital adequacy ratio of 12.14 per cent and a core capital adequacy ratio of 8.49 per cent. Photo: Bloomberg

China Merchants Bank, the mainland's sixth-biggest lender by assets, said yesterday it had obtained Beijing's approval to raise about 20 billion yuan (HK$25.2 billion) through a long-awaited rights issue, becoming the first mainland bank to get the approval to replenish capital following a credit crunch late last month.

24 Jul 2013 - 3:49am

Ex-CCB man takes control at Merchants Bank

Ex-CCB man takes control at Merchants Bank

China Merchants Bank said the China Banking Regulatory Commission had appointed Tian Huiyu to replace Ma Weihua as party secretary of the Shenzhen-based lender.

9 May 2013 - 4:39am

Citic Bank posts flat earnings as peers take flight

Citic Bank is aiming for about 14 per cent growth in aggregate assets this year. Photo: Bloomberg

China Citic Bank reported flat earnings for last year, while its Hong Kong-listed mainland peers posted double-digit growth. Earnings grew by a quarter at China Merchants Bank (CMB) and more than a third at China Minsheng Banking.

29 Mar 2013 - 5:05am

China Merchants Bank family savings promotion criticised as 'sexist'

CMB described its programme as an efficient way for a couple to save. Photo: EPA

A mainland bank’s offer to automatically transfer most of a husband’s income to his wife’s account has provoked fury, with some calling it “the most atrocious banking service against men in history”.

On its website China Merchants Bank (CMB), a major financial institution, describes its “capital accumulation” service as a “time- and energy-efficient” way for a couple to save money.

14 Jan 2013 - 3:41pm

China Digest, December 19, 2012

The director of the supply and market co-operative in Lixin county, Haozhou, was ridiculed online after his portrait appeared on "anti-fake" labels on firecrackers, the Southern Metropolis Daily reports.

19 Dec 2012 - 3:18am

Competition eats into CMB margins

Citic Bank made a loan provision of 4 billion yuan compared with 1.81 billion yuan at the same time last year. Photo: Bloomberg

China Merchants Bank's net profit grew 16.6 per cent in the third quarter from a year earlier, driven by a rise in interest income, but net interest margin dipped amid fierce competition.

Earnings at the mainland's sixth-largest lender by assets reached 11.41 billion yuan (HK$14.16 billion).

30 Oct 2012 - 4:25am

China Merchants sees 40pc growth in profit

China Merchants Bank (CMB), the mainland's sixth-largest lender by market value, yesterday reported a 40 per cent profit growth last year, benefiting from a high net interest margin.

But the lender is under pressure to rev up its share placement plan since it is required to replenish capital to meet the stringent regulatory requirements likely to come into effect on July 1.

29 Mar 2012 - 12:00am

Training with the pioneers

Wing Lung Bank, the local Chinese financial institution set up in 1933, was one of the Hong Kong pioneers in starting an Officer Training Programme, launched 15 years ago, which was later suspended. As a wholly owned subsidiary of China Merchants Bank (CMB) since 2009, Wing Lung has undergone rapid growth. It has also restarted a Graduate Training Programme.

29 Jul 2011 - 12:00am

Mainland banks 'must find new profit paths'

The mainland's banking industry must evolve from overreliance on loans and interest income and expand into intermediary services, wealth management and online banking, the head of China Merchants Bank said.

19 Jul 2011 - 12:00am

Toast to 100 days

Financial Secretary John Tsang Chun-wah (far left), China Merchants Bank chairman Qin Xiao, its president Ma Weihua and Secretary for Financial Services and the Treasury Chan Ka-keung attend a cocktail reception yesterday to celebrate the 100th day of the lender's merger with Wing Lung Bank.

9 Jan 2009 - 12:00am

China Merchants lowers loan growth target

China Merchants Bank is targeting domestic loan growth of just 11 per cent this year, down from 19 per cent last year, to adapt to the state's tightening monetary policy.

20 Mar 2008 - 12:00am

Bocom and CMB expected to post stellar results ahead of slowdown

Bank of Communications, the mainland's fifth-largest lender, is likely to report lower profit growth for this year, following robust growth in revenues last year.

18 Mar 2008 - 12:00am

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