CMB net profit increased by 40% per cent last year

On the evening of March 31, China Merchants Bank announced its 2010-year performance.　　2010, China Merchants Bank (referred to the group) to achieve the shareholder net profit of 25.769 billion yuan, an increase of 41.32%, net interest rate of 2.65%, up from the previous year increased by 0.42%. It is noteworthy that the bank's 2010 loan impairment loss of 5.57 billion yuan, compared to 2009 81.26%, the bank said the main reason is the group 2010 to the local government financing platform, and other loans to increase the combination of provision.　　The proportion of personal housing loans to retail loans fell from 71.66% to 60.28%. CMB Board resolution also passed the 2010-year profit distribution plan, to all shareholders 10 cash dividends 2.90 yuan (including tax). At the same time, the Board approved the renminbi bond issuance plan: The next 3 years (2011-2013 years) of the balance of the issuance of financial bonds will not exceed 10% of the balance of liabilities, the balance of liabilities by the last year of the renminbi balance of assets approved.　　In the next 3 years, the balance of the issue of RMB bonds will not exceed 30 billion yuan. Increase in coverage to 302.41% Bank said that the group 2010 net interest income growth of 41.4% to 57.08 billion yuan, due to the increase in risk pricing capacity, asset-liability structure optimization, demand savings account increase and interest rate factors, the 2010 net interest rate increase of 42 basis points, Reached 2.65%.　　2010 Group actively develop intermediary business, the realization of non-interest 14.301 billion yuan, an increase of 27.1%. The average yield of the group's interest-bearing assets in 2010 was 3.93%, up 28 points from the previous year, with an average cost rate of 1.37% per cent, down 13 basis points over the previous year.　　With the increase of average yield of interest-bearing assets and the effective control of the average cost rate of the accrued liabilities, the net yield of the group in 2010 was 2.65%, which was 42 basis points higher than 2009. At the same time, the group Fee and Commission net income increased significantly.　　2010, the group fees and commissions net income of 11.33 billion yuan, an increase of 3.337 billion yuan in 2009, an increase of 41.75%, mainly the bank card handling fees, agent service fees increased.　　By the end of 2010, the group had a non-performing loan rate of 0.68%, down 0.14% from the beginning of the year, and a 302.41% increase in non-performing loans, up 55.75% from the beginning of the year. Data show that the 2010 loan impairment losses of the Bank of 5.57 billion yuan, compared with 2009 81.26%, the bank said the main reason is the group 2010 to the local government financing platform, and other loans to increase the combination of provision.　　The proportion of personal housing loans to retail loans fell from 71.66% to 60.28%.　　By the end of 2010, the bank had achieved after-tax profits of HK $1.35 billion, a significant increase of 52.5% per cent year-on-year. The loan ratio was raised slightly up to the end of 2010, the bank itself after the risk adjustedThe return on capital (RAROC) was 20.23%, up 2.2% from the previous year, and the Bank of ICBC first completed the A+h allotment in April 2010, with capital ratios rising from 10.45% in the previous year to 11.47% at the end of 2010, and core capital adequacy ratios rising to 6.63% from the previous year's 8.04%. By the end of 2010, the CMB itself had issued a new floating proportion of the weighted average interest rate on general loans for RMB,　　Increased by 7.9% per cent from 2009, the new general wholesale loan weighted average interest rate floating ratio rose 3.8% from 2009, and the new weighted average interest rate floating ratio of RMB retail loans increased by 20.1% over 2009. A small increase in the loan ratio.　　In 2010, the total loan allocation rate of the CMB increased from 2.02% in 2009 to 2.05%. In addition, as at the end of 2010, China Merchants Bank credit card issued 34.77 million cards, the annual new credit card 4.04 million.　　2010 to achieve credit card turnover of 392 billion yuan, an increase of 30.3%. The adjustment of reserve ratio last year, the bank said that in the fourth quarter of 2010, the PBOC raised the benchmark interest rate on deposits and loans two times, with the interest rate unchanged, one-year fixed deposit rate and one-year loan rate up 50 basis points.　　Raising the benchmark interest rate on deposit and loan has a positive impact on the level of interest spreads of CMB: On the one hand, due to the relatively short term of loan pricing, the interest rate is promoted by the interest rate, which makes the asset business yield significantly benefit from the process of interest rate increase. In 2010, the People's bank increased the statutory reserve requirement ratio 6 times and tightened market liquidity. Because of the relatively high liquidity ratio of the Merchants Bank, the effect on the liquidity of CMB is relatively small. In order to adapt to the change of monetary policy, the Bank has actively pushed forward two times to restructure the assets and liabilities, continuously improve the level of liquidity risk management, and effectively guard against the liquidity risk. Responsible Editor: NF045