On October 31, China Merchants Bank (CMB) held its Q3 2025 earnings conference. Regarding asset quality, a senior executive stated that while the bank's overall asset quality remains controllable, certain challenges may emerge at different stages or points in time.

The executive noted that in the corporate banking sector, particularly in wholesale financing related to real estate, risks remain a significant factor. Despite enhanced risk controls, some business segments may experience periodic fluctuations and challenges, potentially impacting asset quality performance.

Additionally, the executive highlighted rising non-performing loan formation in retail banking, particularly in consumer loans and small business lending, posing relatively higher volatility risks to asset quality.

The bank emphasized its commitment to prudent and cautious practices, ensuring overall asset quality remains relatively stable within expected control parameters.