CM Bank (03968.HK) (600036.SH) President Wang Liang explained the ROE situation of its business in Hong Kong at the 2023 shareholders' meeting, pointing out that CM Bank's business in Hong Kong was affected to some extent due to losses caused by investment in domestic bonds. However, the three institutions of CM Bank in Hong Kong, including CMB Wing Lung Bank, CMB Hong Kong Branch, and CMB International, all achieved profits last year.

Specifically, the net profits of CMB Wing Lung Bank, CMB Hong Kong Branch, and CMB International were about 1.6 billion yuan, 2.9 billion yuan, and 700 million yuan respectively. Wang Liang also pointed out that with the rise of the US dollar interest rates, the interest rate spread in Hong Kong has also increased. The interest rate spread of CMB Hong Kong Branch is close to 2%, while that of CMB Wing Lung Bank is about 1.6%. Both are outstanding among their peers, and the future net profit target in Hong Kong is over 10 billion yuan.