August 18, 2017 / 10:38 AM / a year ago

BRIEF-China Merchants Bank posts HY net profit attributable of RMB39.26 bln

Aug 18 (Reuters) - China Merchants Bank Co Ltd:

* HY net interest income RMB70,896 million versus RMB67,477 million a year ago

* HY net profit attributable to the bank’s shareholders RMB39.26 billion versus RMB35.23 billion

* HY net interest margin 2.43 percent versus 2.58 percent

* As at June 30, 2017, tier 1 capital adequacy ratio under advanced approach was 12.42 percent

* Company would not distribute interim dividend for first half of 2017

* Looking forward into second half of year, market interest rate is expected to fall, but will remain at relatively high level

* Situation of weak growth in deposits will continue, while pressure on debt costs will persist in H2

* It is expected that net interest margin of company will remain relatively stable in second half of year

* China’s economic growth in second half of year will slow down moderately Source text for Eikon: Further company coverage:

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