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China Merchants Bank Co Ltd Class H (HK:3968)
HKEX:3968
Holding HK:3968?
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Earnings Data
Report Date
Mar 21, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
HK$1.31Last Year’s EPS
HK$1.19Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: 0.89%
|Next Earnings Date:Mar 21, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with noteworthy achievements in customer base expansion and capital adequacy. However, the bank faced significant challenges in revenue growth, declining NIM, and pressures in wealth management income. While asset quality remained stable, the increase in NPL formations and continued pressure on NIM and net profit growth were concerning.Company Guidance
During the Q3 2024 earnings call for China Merchants Bank (CMB), the executives provided comprehensive guidance on various financial metrics and strategies. They highlighted a year-on-year decrease in net operating income by 2.93% to CNY 252.6 billion and a slight decline in net profit attributable to shareholders by 0.62% to CNY 113.184 billion. The Return on Average Assets (ROAA) and Return on Average Equity (ROAE) remained strong at 1.33% and 15.38%, respectively. The bank's capital adequacy ratios improved, with the core CET1 CAR at 14.73% and overall CAR at 18.67%. Operating expenses were contained at CNY 82.17 billion, leading to a cost-to-income ratio decline to 29.59%. Total assets grew by 5.68% to CNY 11.65 trillion, with total loans increasing by 3.84% to CNY 6.76 trillion. The bank also reported a stable net interest margin (NIM) of 1.99% despite pressures from interest rate cuts. Asset quality remained robust, with a non-performing loan (NPL) ratio of 0.94% and an allowance coverage ratio of 432.15%. The executives emphasized their strategic focus on maintaining high asset quality through prudent risk management while navigating the challenging economic environment and leveraging opportunities from recent policy changes.Stable Asset Quality with Robust Risk Management
The bank's NPL ratio remained stable at 0.94%, with a strong allowance coverage ratio of 432.15% and a loan provision ratio of 4.06%, indicating solid risk management practices.
Growth in Retail Customer Base and AUM
The number of retail customers reached 206 million, with Golden Sunflower and above customers increasing by 9.16%. Retail AUM grew to CNY 14.34 trillion, marking an increment of CNY 1.02 trillion from the end of last year.
Improved Capital Adequacy Ratios
The bank maintained high capital levels with CET CAR at 14.73%, CAR at 16.99%, and total CAR at 18.67%, showing strong capital adequacy.
Positive Trends in Corporate Loans
Corporate loans grew by 6.7% compared to the end of last year, driven by strategic investments in key areas and regions.
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HK:3968 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HK:3968 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | HK$39.30 | HK$39.35 | +0.13% |
| Aug 29, 2024 | HK$34.60 | HK$33.80 | -2.31% |
| Apr 29, 2024 | HK$32.17 | HK$32.87 | +2.19% |
| Mar 25, 2024 | HK$28.41 | HK$28.22 | -0.66% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does China Merchants Bank Co Ltd Class H (HK:3968) report earnings?
China Merchants Bank Co Ltd Class H (HK:3968) is schdueled to report earning on Mar 21, 2025, TBA Not Confirmed.
What is China Merchants Bank Co Ltd Class H (HK:3968) earnings time?
China Merchants Bank Co Ltd Class H (HK:3968) earnings time is at Mar 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of China Merchants Bank Co Ltd Class H stock?
The P/E ratio of China Merchants Bank Co is 6.3.
What is HK:3968 EPS forecast?
HK:3968 EPS forecast for the fiscal quarter 2024 (Q4) is HK$1.31.
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