DBS raises target for China Merchants Bank stock to HKD 58.50

Published on 10/07/2026 at 10:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First-half net profit hit RMB 76.445 billion, up 2.02 percent. China Merchants Bank stock costs EUR 5.79 on October 7, 2026 after EUR 5.75.

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DBS raised its 12-month target for China Merchants Bank stock to HKD 58.50 and kept a Buy rating in a report dated September 9, 2026. The bank's research history shows the target rising from HKD 53.50 on March 30, 2026 to HKD 58.50 on September 3, 2026, giving the analyst call a clear wealth-management angle.

Wealth fees lead first-half growth

China Merchants Bank reported RMB 178.181 billion in operating income for the first half of 2026, up 4.83 percent year over year, while net profit attributable to shareholders reached RMB 76.445 billion, up 2.02 percent. Futunn published those figures in a September 22, 2026 review of the bank's interim report.

The strongest operating comparison came from wealth management fees and commissions, which increased 26.53 percent year over year to RMB 16.192 billion in the first half. Net interest income rose 5.60 percent to RMB 112.022 billion, helping offset pressure on lending yields.

Margins still face pressure

The same first-half review put China Merchants Bank's net interest margin at 1.83 percent, down 5 basis points year over year. Retail loan balances fell 1.08 percent from year-end, while corporate loans increased 9.08 percent, showing how the lending mix is shifting toward corporate finance.

Asset quality supplied a counterweight. The non-performing loan ratio stood at 0.94 percent at the end of the first half, unchanged from year-end, although retail loan non-performing loans rose to 1.16 percent. DBS identified weaker retail loan growth, further margin pressure and asset quality deterioration as risks in its September 9, 2026 report.

Analyst targets meet live pricing

DBS also reported retail assets under management of RMB 18.44 trillion at the end of the first half, up 7.96 percent from December 2025. Its target of HKD 58.50 is a separate Hong Kong dollar valuation reference and is not combined with the euro quotation used below.

China Merchants Bank was trading at EUR 5.79 at Lang & Schwarz on October 7, 2026 at 10:27 a.m. CEST, up 0.70 percent versus the prior close of EUR 5.75 on October 6, 2026. The primary listing is on the Hong Kong Stock Exchange, where the finance quote showed HKD 50.95 and a market capitalization of HKD 1.3 trillion on October 7, 2026.

The further course of trading is shown by the continuously updated real-time quote of China Merchants Bank stock.