China's best bank for CSR 2023: China Merchants Bank
Asiamoney is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
AwardsBest Bank Awards

China's best bank for CSR 2023: China Merchants Bank

China Merchants Bank

China Merchants Bank (CMB) flourished despite a volatile operating environment last year, and its commitment to transformation and innovation in the banking industry sets it apart. CMB, which was set up in 1987, is Asiamoney’s winner for best domestic investment bank and best bank for corporate social responsibility (CSR) in 2023.

Last year was especially tough for CMB: its former president was arrested for corruption and officially charged in March 2023, while the bank was fined by China’s central bank for breaching regulations including anti-money laundering rules.

But CMB’s financial performance was impressive. Its total assets exceeded the Rmb10 trillion ($1.4 trillion) mark for the first time in 2022. Net profit jumped 15% year on year to Rmb138 billion, while net operating income rose 4% to Rmb344.74 billion.

Even in a shrinking market, CMB’s M&A business grew steadily, to hit Rmb186.4 billion. Noteworthy deals include the privatization of Chinese online recruitment platform 51Job and Shenzhen Expressway’s acquisition of Wanqu Development, which is regarded as a benchmark project for state-owned enterprise reform in China.

CMB introduced its Investor Roadshow platform, connecting over 1,100 investment entities, to improve its service. Through this platform, it facilitated 47 equity financing roadshows for 36 companies, raising Rmb98.7

Gift this article