Financial Performance - The average return on equity (ROAE) for the year reached 14.49%, indicating positive profit growth despite revenue decline narrowing each quarter [9]. - Operating income reached CNY 337.49 billion, and net profit attributable to shareholders was CNY 148.39 billion, a year-on-year increase of 1.22% [20]. - The company's operating income for 2024 was RMB 337,488 million, a decrease of 0.48% compared to RMB 339,123 million in 2023 [47]. - Net profit for 2024 reached RMB 149,559 million, reflecting a growth of 1.05% from RMB 148,006 million in 2023 [47]. - The company reported a total profit of CNY 178.65 billion, reflecting a year-on-year growth of 1.15% [67]. - The company's interest expense was CNY 162.99 billion, an increase of 1.28% year-on-year, primarily due to the growth in interest-bearing liabilities [76]. - The average return on total assets for shareholders decreased to 1.28% in 2024, down from 1.39% in 2023, a decline of 0.11 percentage points [47]. - The net interest margin decreased by 0.17 percentage points to 1.86% compared to the previous year [53]. Asset and Deposit Growth - Total assets surpassed RMB 12 trillion, and deposits exceeded RMB 9 trillion, both growing by over 10% compared to the previous year [9]. - Total assets exceeded CNY 12 trillion, with total customer deposits surpassing CNY 9 trillion [20]. - Customer deposits grew by 11.54% to RMB 9,096,587 million, with retail time deposits surging by 23.27% to RMB 2,052,783 million [48]. - The average daily balance of demand deposits accounted for 50.34% of the average daily balance of customer deposits, a decrease of 6.74 percentage points year-on-year [117]. - The company's customer deposit balance reached 87,782.50 billion yuan, an increase of 11.52% compared to the end of the previous year [186]. Loan and Financing Activities - The total financing amount (FPA) for corporate clients exceeded RMB 6 trillion, with increased loan balances in key sectors such as technology, green finance, and manufacturing [10]. - The total amount of loans and advances was RMB 6,888.32 billion, up 5.83% year-on-year, accounting for 56.68% of total assets, a decrease of 2.34 percentage points [98]. - Corporate loans amounted to CNY 2,863.74 billion, growing by 10.15% year-over-year, with a non-performing loan (NPL) ratio of 1.06%, down 0.13 percentage points [125]. - Retail loans stood at CNY 3,644.63 billion, up 6.01% from the previous year, with an NPL ratio of 0.96%, an increase of 0.07 percentage points [125]. - The new issuance of corporate loans amounted to 402.541 billion yuan, reflecting a year-on-year growth of 32.61% [169]. Risk Management and Asset Quality - Non-performing loan ratio and provision coverage ratio remain at a favorable level compared to other listed banks, ensuring robust risk management [9]. - Non-performing loan ratio remained stable at 0.95%, with a provision coverage ratio of 411.98% [20]. - The company maintained a stable asset quality, with total NPLs at CNY 65.61 billion, a slight increase from CNY 61.58 billion last year [130]. - The company’s overall asset quality remains controllable, with a focus on risk management in key areas such as personal housing loans and small micro loans [192]. - The company plans to enhance risk management strategies in consumer credit, focusing on clients with stable income and good credit status [198]. Digital Transformation and Innovation - The bank launched the first open-source financial model with 100 billion parameters in the domestic banking sector, enhancing its digital transformation efforts [11]. - The company aims to enhance its AI capabilities and digital transformation, transitioning from "online banking" to "intelligent banking" [16]. - CMB has launched a financial large model named "Yizhao," which is the first of its kind in the domestic market, with over 120 application scenarios [28]. - The company launched China's first open-source financial large model with 10 billion parameters and released a 2TB high-quality financial dataset [172]. - The company invested 13.35 billion yuan in information technology, representing 4.37% of its operating income [166]. Customer Base and Service Enhancement - Retail customer base exceeded 200 million, with total assets under management (AUM) approaching RMB 15 trillion [11]. - The total number of retail customers reached 210 million, an increase of 6.60% compared to the end of the previous year [162]. - The number of retail wealth management product holding clients reached 58.2162 million, a growth of 13.31% year-on-year [165]. - The company aims to enhance its retail loan structure, focusing on personal housing loans and credit card loans, while maintaining support for small and micro loans [189]. - The company is focusing on enhancing customer service and exploring growth points in niche markets to counteract challenges in effective demand and market volatility [181]. Strategic Focus and Future Plans - The bank emphasizes its commitment to integrating its operations with national development strategies, enhancing support for the real economy [10]. - The company aims to become the best value-creating bank driven by innovation and distinctive models, focusing on wealth management, financial technology, and risk management [43][44]. - The company plans to continue optimizing its credit policies to better align with market demands and support key industries [127]. - The company will dynamically adjust credit policies in response to national industrial policies and market conditions [200]. - The bank's strategy focuses on value creation, leveraging AI and digital transformation to enhance operational efficiency and reduce transaction costs [31].

Core Insights - The core viewpoint of the article highlights the performance of China Merchants Bank (CMB) in retail banking, showcasing a growth in assets under management (AUM) and an increase in private banking clients despite challenges in net interest income and overall profitability [1][3]. Financial Performance - CMB reported a revenue of 337.49 billion yuan, a slight decrease of 0.48% year-on-year, while net profit attributable to shareholders increased by 1.22% to 148.39 billion yuan [4][5]. - Net interest income fell by 1.58% to 211.28 billion yuan, with a net interest margin of 1.98%, down 17 basis points year-on-year [5][11]. - Non-interest income rose by 1.41% to 126.21 billion yuan, with significant declines in wealth management fees and commissions, particularly a 22.70% drop in wealth management fees [5][6]. Retail Banking Performance - CMB's retail banking segment saw a pre-tax profit decline of 9.56%, with retail customer numbers increasing by 6.60% to 210 million and AUM growing by 12.05% to 14.93 trillion yuan [8][9]. - The structure of AUM indicates a strong performance in non-deposit assets, with non-deposit AUM exceeding 70%, which is considered exceptional compared to peers [9][10]. Private Banking and Credit Card Business - The number of private banking clients increased by 13.61% to 169,100, indicating robust growth in high-end wealth management services [10]. - Credit card circulation slightly decreased, with transaction volume dropping by 8.23% to 4.42 trillion yuan [10]. Asset Quality - CMB maintained a non-performing loan (NPL) ratio of 0.95%, unchanged from the previous year, with a provision coverage ratio of 411.98% [11][12]. - The bank's real estate NPL ratio decreased to 4.94%, while retail loan NPLs rose slightly to 0.96% [14][15]. Strategic Outlook - CMB's leadership emphasized the importance of strengthening capital-intensive businesses while optimizing light capital operations and enhancing wealth management services [15][16]. - The bank aims to leverage technology to drive innovation and improve service delivery, positioning itself as a leading value-creating bank [15][16].

Core Viewpoint - China Merchants Bank reported a stable growth in 2024 despite a complex macroeconomic environment, with a slight decline in net interest margin and a modest increase in net profit year-on-year [1][2]. Financial Performance - Q4 2024 net profit was CNY 35.207 billion, a decrease of approximately 8.42% quarter-on-quarter; full-year net profit reached CNY 148.391 billion, up 1.22% year-on-year [1][2]. - Total operating income for Q4 was CNY 84.779 billion, with full-year income at CNY 337.488 billion, a slight decrease of 0.48% year-on-year [1][2]. - The net interest margin for 2024 was 1.98%, down 17 basis points year-on-year, while Q4 saw a further decline to 1.94% [1][7]. Asset and Liability Management - Total assets exceeded CNY 12 trillion, growing by 10.19%, and customer deposits surpassed CNY 9 trillion, increasing by 11.54% [1]. - Non-performing loan ratio remained stable at 0.95%, with a provision coverage ratio of 411.98% [1]. Revenue Breakdown - Net interest income was CNY 211.277 billion, down 1.58% year-on-year, accounting for 62.60% of total revenue [4]. - Non-interest income reached CNY 126.211 billion, up 1.41% year-on-year, representing 37.40% of total revenue [4]. Strategic Initiatives - The bank is accelerating its transformation from "Online Bank" to "Smart Bank," with a technology investment of CNY 13.35 billion, representing 4.37% of revenue [6]. - The launch of the first open-source financial model in the domestic banking sector, named "Yizhao," highlights the bank's commitment to integrating AI into various business scenarios [6]. Business Segmentation - Retail banking remains the primary revenue contributor, accounting for 58.32% of total revenue, with retail customer assets nearing CNY 15 trillion [5]. - The bank's corporate banking segment also showed growth, with a customer base of 3.1664 million, an increase of 12.26% year-on-year [5].

Group 1 - The core point of the article is that China Merchants Bank has applied for a patent for a decision model verification method, which aims to enhance the efficiency of decision model validation [1][3] Group 2 - The patent application is titled "Verification Method, Device, Equipment, Storage Medium, and Program Product for Decision Models" and was filed on October 2024 [1] - The verification method involves receiving relevant verification data, obtaining modified data values for first dependent data, and validating the target decision model based on these modified values and preset values of second dependent data [1] - This approach allows business personnel to validate the target decision model without needing to construct dependent data themselves, thus improving the efficiency of the verification process [1] Group 3 - China Merchants Bank was established in 1987 and is located in Shenzhen, primarily engaged in monetary financial services [2] - The company has a registered capital of approximately 25.22 billion RMB and a paid-in capital of about 296.29 million RMB [2] - The bank has made investments in 15 enterprises, participated in 5,000 bidding projects, and holds 1,327 trademark records and 1,708 patent records [2]

内部控制审计报告 安永华明（2025）专字第70023674_H02号 招商银行股份有限公司 招商银行股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审 计了招商银行股份有限公司（以下简称"贵行"）2024年12月31日的财务报告内部控 制的有效性。 A member firm of Ernst & Young Global Limited 1 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价 指引》的规定，建立健全和有效实施内部控制，并评价其有效性是企业董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计 意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于情况 的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低，根据内 部控制审计结果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 我们认为，贵行于2024年12月31日按照 ...

审计报告及财务报表 2024年12月31日止年度 招商银行股份有限公司 审计报告及财务报表 2024年12月31日止年度 | 内容 | | 页码 | | | --- | --- | --- | --- | | 审计报告 | 1 | - | 8 | | 合并及公司资产负债表 | 9 | - | 10 | | 合并及公司利润表 | 11 | - | 13 | | 合并及公司现金流量表 | 14 | - | 17 | | 合并及公司股东权益变动表 | 18 | - | 21 | | 财务报表附注 | 22 | - | 224 | 招商银行股份有限公司 审计报告 安永华明（2025）审字第70023674_H01号 招商银行股份有限公司 招商银行股份有限公司全体股东： 一、审计意见 我们审计了招商银行股份有限公司（以下简称"贵行"）及其子公司（以下统称 "贵集团"）的财务报表，包括2024年12月31日的合并及公司资产负债表，2024年度 的合并及公司利润表、合并及公司现金流量表、合并及公司股东权益变动表以及相关 财务报表附注。 我们认为，后附的贵集团的财务报表在所有重大方面按照企业会计准则的规定编 制，公允反映了贵 ...

招商银行股份有限公司 独立董事2024年度述职报告 二○二五年三月二十五日 1 王仕雄独立董事2024年度述职报告 2024 2024 2017 2 2024 11 3 2 | 会议分类 | 实际出席次数 / 应出席次数 | | --- | --- | | 股东大会 | 1/1 | | 董事会会议 | 12/12 | | 提名委员会 董事会 | 6/6 | | 审计委员会 | 8/8 | | 专门委员会会议 关联交易管理与 | 4/4 | | 消费者权益保护委员会 | | | 独立董事年报工作会议 | 1/1 | Thomson Reuters 2024 1 14 6 12 4 8 86 22 6 13 12 36 16 1 1 1 2024 | | | 2024 2024 1 2024 11 8 2024 1 1 2024 11 8 36.68 4 2024 ESG 5 2024 5 2024 2023 2023 2023 2024 2024 2024 2023 2024 2024 6 2024 2024 7 李孟刚独立董事2024年度述职报告 2024 2024 2018 11 (NAES) (IEEE) ...

A 股简称：招商银行 A 股代码：600036 公告编号：2025-017 招商银行股份有限公司 关于续聘会计师事务所的公告 招商银行股份有限公司（简称本公司或招商银行）董事会及全体董事保证 本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实 性、准确性和完整性承担法律责任。 重要内容提示： 拟续聘的会计师事务所名称： 安永华明会计师事务所（特殊普通合伙）（简称安永华明） 安永会计师事务所（简称安永香港） 一、拟续聘会计师事务所的基本情况 （一）机构信息 1.国内会计师事务所：安永华明 （1）基本信息 息传输、软件和信息技术服务业等。其中，安永华明 2023 年度金融业上市公司 审计客户有 20 家。 （2）投资者保护能力 安永华明已按照相关法律法规要求计提职业风险基金和购买职业保险，保险 涵盖北京总所和全部分所。安永华明已计提的职业风险基金和已购买的职业保险 累计赔偿限额之和超过人民币 2 亿元。安永华明近三年不存在任何因与执业行为 相关的民事诉讼而需承担民事责任的情况。 （3）诚信记录 安永华明近三年因执业行为受到刑事处罚 0 次、行政处罚 0 次、监督管理措 施 3 次、自律监管措施 ...

二. 内部控制评价结论 1. 公司于内部控制评价报告基准日，是否存在财务报告内部控制重大缺陷 公司代码：600036 公司简称：招商银行 招商银行股份有限公司 2024 年度内部控制评价报告 招商银行股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称企业内部 控制规范体系），结合招商银行股份有限公司（以下简称公司）内部控制制度和评价办法，在内部控制 日常监督和专项监督的基础上，我们对公司2024年12月31日（内部控制评价报告基准日）的内部控制有 效性进行了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实 ...

招商银行股份有限公司 2024 年度第三支柱报告 CHINA MERCHANTS BANK CO., LTD. | 1 | | --- | | . | | 1. | 引言 4 | | --- | --- | | 1.1 | 公司简介 4 | | 1.2 | 披露依据 5 | | 1.3 | 并表范围 5 | | 1.4 | 披露声明 5 | | 2. | 释义 6 | | 3. | 风险管理、关键审慎监管指标和风险加权资产概览 7 | | 3.1 | KM1 监管并表关键审慎监管指标 7 | | 3.2 | OVA 风险管理定性信息 8 | | 3.3 | OV1 风险加权资产概况 12 | | 4. | 资本和总损失吸收能力的构成 14 | | 4.1 | CCA 资本工具和合格外部总损失吸收能力非资本债务工具的主要特征..14 | | 4.2 | CC1 资本构成 14 | | 4.3 | CC2 集团财务并表和监管并表下的资产负债表的差异 17 | | 5. | 财务报表与监管风险暴露间的联系 20 | | 5.1 | LIA 财务数据和监管数据间差异的原因 20 | | 6. | 薪酬 22 | | ...