Financial Performance - The company's operating income for 2024 reached RMB 213,223 million, a 3.72% increase from RMB 205,570 million in 2023[40]. - Total profit for 2024 was RMB 80,863 million, reflecting a growth of 7.98% compared to RMB 74,887 million in 2023[40]. - Net profit attributable to shareholders was RMB 68,576 million, up 2.33% from RMB 67,016 million in 2023[40]. - The average return on total assets (ROAA) for 2024 was 0.75%, a slight decrease from 0.77% in 2023[42]. - The net interest margin stood at 1.77%, remaining stable year-on-year and outperforming the market for three consecutive years[22]. - The company's total assets as of December 31, 2024, amounted to RMB 9,532,722 million, a 5.31% increase from RMB 9,052,484 million in 2023[44]. - Customer deposits totaled RMB 5,778,231 million, representing a 7.04% increase from RMB 5,398,183 million in 2023[44]. - The liquidity coverage ratio was 218.13% in 2024, significantly higher than the regulatory requirement of 100%[49]. Dividend Distribution - The proposed cash dividend for the fiscal year 2024 is RMB 1.722 per 10 shares, totaling RMB 9.582 billion, alongside an interim dividend of RMB 9.873 billion, leading to a total annual cash dividend of RMB 19.455 billion[4]. - The bank aims to maintain its total dividend distribution amount unchanged, adjusting the per-share distribution ratio if there are changes in total share capital before the dividend record date[4]. - The bank plans to further increase its dividend payout ratio to reward investors for their trust and support[16]. Asset and Loan Management - The total amount of loans and advances reached RMB 57,201.28 billion, an increase of 4.03% year-over-year, with net loans accounting for 58.7% of total assets[114]. - The balance of loans to technology enterprises increased by nearly 20% year-on-year, reflecting the bank's focus on serving the real economy[17]. - The green credit balance surpassed RMB 600 billion, with a year-on-year growth of 31%[17]. - The non-performing loan ratio is projected to be 1.16% by the end of 2024, marking six consecutive years of decline[21]. - The provision coverage ratio increased to over 209%, the best level since 2013[21]. Strategic Vision and Market Position - The bank's strategic vision includes becoming a world-class bank by implementing a "Five Leading" strategy, focusing on wealth management, comprehensive financing, transaction settlement, foreign exchange services, and digital banking[9]. - The bank ranks 19th in the "Global Banking Brand Value 500" list published by Brand Finance in 2024, and its Tier 1 capital ranks 18th in the "World's 1000 Banks Ranking" by The Banker magazine[8]. - CITIC Bank was recognized as a "Market Influential Institution" and "Market Innovative Business Institution" by the National Interbank Funding Center in January 2024[34]. Risk Management and Compliance - The bank emphasizes risk management and has established a comprehensive risk management system to enhance risk control effectiveness[62]. - The bank's governance structure is designed to ensure effective management and compliance, enhancing operational efficiency and risk management capabilities[59]. Customer and Market Engagement - The bank served over 300,000 small and micro enterprises through its "CITIC Easy Loan" product, covering nearly 80% of the national economy[17]. - The retail customer base increased to 145 million, with retail managed assets steadily rising to 4.69 trillion yuan[19]. - The number of pension account users exceeded 5 million, leading the industry in pension fund custody scale[17]. Awards and Recognition - The company was recognized as a top performer in various awards, including the "Best Wealth Management Bank" and "Outstanding Financial Institution" in 2024[36][37]. - The bank received multiple awards from the Shanghai Commercial Paper Exchange, including "Outstanding Comprehensive Business Institution" and "Outstanding Discount Institution" in January 2024[34]. Financial Innovations and Projects - The company launched several new projects, including a privacy computing data integration project and a trust technology platform, which received accolades from the People's Bank of China[38]. - The bank is advancing digital transformation and has launched a domestic distributed core system, integrating technologies like AI, blockchain, and big data into its operations[62].
中信银行(00998) - 2024 - 年度业绩