China Merchants Bank stock reports 2.02 percent H1 profit growth

Published on 10/05/2026 at 21:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

China Merchants Bank stock was last at HKD 50.70 on October 5, while analysts set an average target of HKD 59.31. First-half net income reached CNY 76.45 billion.

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China Merchants Bank stock reported first-half 2026 net profit attributable to shareholders of CNY 76.45 billion, up 2.02 percent year over year. The H-share was last at HKD 50.70 on October 5, 2026, up 0.20 percent in Hong Kong trading.

Profit growth stays positive

According to Yahoo Finance, China Merchants Bank generated CNY 178.135 billion in net operating income during the first half of 2026, a 4.83 percent increase from the comparable period. Net fee and commission income reached CNY 39.86 billion, rising 5.99 percent year over year.

The strongest operating contribution came from wealth management. Income from extensive wealth management reached CNY 24.7 billion in the first half, up 18.44 percent year over year, while retail customers totaled 231 million, an increase of 3.13 percent.

Margins remain the pressure point

The same Yahoo Finance transcript put the first-half net interest margin at 1.83 percent, down 5 basis points year over year. Retail loans totaled CNY 3.61 trillion, down 1.11 percent from the end of 2025, highlighting the tension between fee growth and loan demand.

China Merchants Bank's balance sheet remained large, with total loans and advances at CNY 7.45 trillion, up 4.73 percent year over year in the first half. Total financial products under management reached CNY 7.27 trillion, an 8.13 percent increase year to date.

Analysts see upside to HKD 59.31

According to Investing.com, 20 analysts give the stock a Buy consensus, with an average 12-month target of HKD 59.31. The highest target is HKD 73.78 and the lowest is HKD 49.74, putting the average target 17.0 percent above the HKD 50.70 reference price.

DBS also reiterated a Buy rating and raised its target to HKD 58.50 in a report dated September 9, 2026, according to DBS. Its report identified weaker retail loan growth and further net interest margin pressure as key risks, while highlighting retail assets under management of CNY 18.44 trillion at the end of the first half.

HKD 50.70 remains below the yearly high

China Merchants Bank stock was last at HKD 50.70 on the Hong Kong Stock Exchange at 4:08 p.m. HKT on October 5, 2026. The quote stood between the 52-week low of HKD 41.90 and the 52-week high of HKD 56.75, with a market capitalization of HKD 1.3 trillion and volume of 4,529,830 shares.