CNCB(SH:601998)2025-04-29 13:00Financial Performance - The company's operating revenue for 2024 reached RMB 213,646 million, an increase of 3.76% compared to RMB 205,896 million in 2023[39]. - The net profit attributable to shareholders for 2024 was RMB 68,576 million, reflecting a growth of 2.33% from RMB 67,016 million in 2023[39]. - The total assets of the company as of December 31, 2024, amounted to RMB 9,532,722 million, representing a 5.31% increase from RMB 9,052,484 million in 2023[44]. - The company's loan and advance total reached RMB 5,720,128 million, marking a 4.03% increase from RMB 5,498,344 million in 2023[44]. - The average return on total assets (ROAA) for 2024 was 0.75%, a decrease of 0.02% from 0.77% in 2023[42]. - The weighted average return on equity (ROAE) for 2024 was 9.79%, down from 10.80% in 2023, indicating a decline of 1.01%[42]. - The cost-to-income ratio for 2024 was 32.49%, slightly up from 32.35% in 2023[42]. - The total customer deposits reached RMB 5,778,231 million, reflecting a growth of 7.04% from RMB 5,398,183 million in 2023[44]. - The company's general corporate loan balance reached CNY 2,679.67 billion, an increase of CNY 200.03 billion or 8.07% compared to the end of the previous year, with the new issuance of corporate loans achieving a historical high[184]. Asset Quality and Risk Management - Non-performing loan ratio improved to 1.16%, marking six consecutive years of decline, with provision coverage ratio rising to over 209%[22]. - Non-performing loan ratio decreased to 1.16% in 2024 from 1.18% in 2023, showing a 0.02% improvement[47]. - Provision coverage ratio increased to 209.43% in 2024 from 207.59% in 2023, reflecting a 1.84% rise[47]. - The loan provision ratio was 2.43% in 2024, slightly down from 2.45% in 2023[47]. - The bank's overall risk resistance capability remains adequate, with a loan provision ratio of 2.43%, a slight decrease of 0.02 percentage points from the end of the previous year[196]. - The bank's focus on risk management includes differentiated credit policies for real estate enterprises to mitigate risks effectively[198]. Strategic Initiatives and Market Position - The bank's strategy focuses on becoming a leading wealth management and comprehensive financing bank, emphasizing digital transformation[5]. - The bank aims to deepen digital integration and enhance customer engagement through intelligent management and operations[25]. - The bank plans to enhance dividend payout ratio to reward investor trust and support[18]. - Strategic focus on "light capital, light assets, light costs" to drive quality improvement and achieve sustainable development[24]. - The bank aims to enhance its financial services to support the real economy and improve risk management capabilities[58]. Awards and Recognition - CITIC Bank was recognized as a "Market Influential Institution" and "Market Innovative Business Institution" by the National Interbank Funding Center in January 2024[33]. - The bank received an "A-" issuer rating from S&P in April 2024[34]. - The bank was awarded multiple honors by the Shanghai Clearing House for its high-quality development in centralized clearing and issuance registration services in February 2024[33]. - CITIC Bank was recognized as an "Outstanding Comprehensive Business Institution" and "Outstanding Acceptance Institution" by the Shanghai Bills Exchange in January 2024[33]. - The bank was rated as a "Leading Institution in the Bond Market" and "Outstanding Financial Bond Issuer" by the Central Government Bond Registration and Settlement Co., Ltd. in January 2024[33]. Customer Base and Market Expansion - Retail customer base expanded to 145 million, with retail management assets reaching 4.69 trillion, and personal mortgage loans exceeding 1 trillion[21]. - CITIC Bank has established 1,470 branches across 153 major cities in China, enhancing its market presence[4]. - The bank's international presence includes 31 branches and 2 business centers in major global financial hubs[4]. ESG Commitment - The bank's ESG rating improved significantly, reflecting its commitment to sustainable development[17]. - Commitment to ESG principles, balancing social and economic value while fostering a value community with stakeholders[26]. Financial Metrics - The liquidity coverage ratio stood at 218.13% in 2024, up from 167.48% in 2023, indicating improved liquidity management[52]. - The capital adequacy ratio stood at 13.36%, with a Tier 1 capital ratio of 11.26% and a core Tier 1 capital ratio of 9.72%, all meeting regulatory requirements[169]. - The net interest margin remained stable at 1.77%, outperforming the market for three consecutive years[23]. - The bank's total operating income for 2024 was RMB 213,646 million, an increase of 3.5% compared to RMB 205,896 million in 2023[181].