CMB Vice President Xu Mingjie: Retail NPL Balance at RMB 42.832 Billion, Property NPL Ratio Drops to 4.47%

China Merchants Bank held its 2026 interim results conference on August 31. Xu Mingjie, the bank's vice president and chief risk officer, disclosed that as of the end of June 2026, the balance of non-performing retail loans stood at RMB 42.832 billion, an increase of RMB 3.248 billion from the end of 2025. The retail NPL ratio was 1.16%, up 0.10 percentage points from the end of 2025. In response to market conditions, CMB has adjusted its retail credit growth targets and development strategy, placing greater emphasis on curbing new NPL formation and strengthening risk resolution in its assessment and incentive mechanisms.

On the corporate lending side, the balance of non-performing corporate loans was RMB 27.419 billion as of end-June 2026, down RMB 1.203 billion from end-2025, with the corporate NPL ratio at 0.78%, a decrease of 0.11 percentage points from the end of 2025. During the same period, the balance of non-performing property loans was RMB 14.599 billion, down RMB 394 million from end-2025, and the property NPL ratio fell to 4.47%, a decline of 0.31 percentage points from end-2025. Xu outlined the bank's risk-control measures for property lending, including continuously reducing the share of property loans, optimizing the loan structure, strengthening project management with closed-loop fund supervision to prevent misappropriation, accelerating the disposal of non-performing assets while enhancing collateral, and raising provision levels.