2025-03-25 23:50Financial 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].