CMB sees holdings of foreigners shrinking

Foreign banks cut investments in CMB since August 2009, with JP Morgan Chase & Co., UBS and Barclays Bank among the said investors. UBS and its affiliates reduced their H shares in the China-based commercial lender to 6.33 percent on 11 September from 7.47 percent on 30 June, according to a report in Trading Markets.JP Morgan Chase & Co. also reduced its holdings to 13.14 percent on 18 August from 15.7 percent on 30 June. Barclays Bank and its affiliates reduced their holdings to 7.99 percent on 10 August from 10.23 percent on 30 June.China Merchants Bank gained operating revenues of CNY 24.673 billion for the first half of 2009. Net profit touched CNY 8.262 billion in the six months, dropping 37.62 percent from the period last year, according to its interim financial results.The bank made CNY 21.077 billion net profit in the fiscal year 2008, hiking 38.27 percent over a year ago. Earnings per share stood at CNY 1.43, rising 37.5 percent year on year.

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