CM BANK(HK:03968)2025-04-16 08:31Financial Performance - The average return on equity (ROAE) for the year reached 14.49%[7] - Operating net income reached CNY 337.12 billion, with net profit attributable to shareholders increasing by 1.22% to CNY 148.39 billion[19] - The company's operating income for 2024 was RMB 337,121 million, a decrease of 0.58% compared to RMB 339,078 million in 2023[43] - The net profit attributable to shareholders for 2024 was RMB 148,391 million, reflecting a growth of 1.22% from RMB 146,602 million in 2023[43] - The average return on total assets (ROAA) was 1.28%, a decrease of 0.11 percentage points year-on-year[49] - The average return on total assets decreased to 1.28% in 2024, down from 1.39% in 2023, a decline of 0.11 percentage points[45] - The company achieved a net interest income of RMB 211.28 billion, a decrease of 1.58% year-on-year[49] - The total operating income for the year was RMB 337.12 billion, down 0.58% compared to the previous year[49] Asset and Deposit Growth - Total assets exceeded RMB 12 trillion, with deposits surpassing RMB 9 trillion, both growing by over 10% year-on-year[7] - Total assets reached RMB 12,152.04 billion, representing a growth of 10.19% from the previous year[49] - Customer deposits rose by 11.54% to RMB 9,096,587 million in 2024, compared to RMB 8,155,438 million in 2023[43] - The average daily balance of demand deposits accounted for 50.34% of total customer deposits, a decrease of 6.74 percentage points year-over-year, indicating a shift in customer investment preferences towards time deposits[99] - As of December 31, 2024, total customer deposits reached RMB 909,658.7 million, an increase of 11.54% year-over-year, accounting for 83.31% of total liabilities[97] Loan and Financing Activities - The total financing amount (FPA) for corporate clients surpassed RMB 6 trillion, with increased loan proportions in key sectors such as technology, green finance, and manufacturing[8] - The total amount of loans and advances was RMB 688,831.5 million, with a non-performing loan (NPL) balance of RMB 656.10 million, maintaining an NPL ratio of 0.95%[103] - Corporate loans amounted to RMB 2,863,740 million, representing 41.57% of total loans, with a non-performing loan ratio of 1.06%, a decrease of 0.13 percentage points year-over-year[104] - Retail loans reached RMB 3,644,625 million, accounting for 52.91% of total loans, with a non-performing loan balance of RMB 351.35 million, an increase of 45.48 million year-over-year[106] - The total amount of loans to the top ten single borrowers was RMB 143.59 billion, accounting for 10.95% of the group's net capital under the advanced method[116] Risk Management and Asset Quality - The company maintained a non-performing loan (NPL) ratio and provision coverage ratio at a competitive level among listed banks[7] - Non-performing loan ratio remained stable at 0.95%, with a provision coverage ratio of 411.98%[19] - The company has strengthened comprehensive risk management to mitigate risks in key areas and maintain systemic stability[7] - The company has implemented a comprehensive risk management system, enhancing the identification and monitoring of various risks, including credit and market risks[152] - The company aims to strengthen risk management in key areas such as personal housing loans and small micro loans, ensuring overall asset quality remains stable[171] Capital Adequacy and Financial Stability - Core Tier 1 capital adequacy ratio improved by 1.13 percentage points to 14.86%, while total capital adequacy ratio reached 19.05%[19] - The core Tier 1 capital adequacy ratio was 14.86%, up 1.13 percentage points from the previous year, while the total capital adequacy ratio was 19.05%, up 1.17 percentage points[123] - The company's net core Tier 1 capital was RMB 914,275 million, up 14.06% from RMB 801,565 million at the end of the previous year[130] - The risk-weighted assets (RWA) not considering capital floor requirements were RMB 6,160,977 million, an increase of 16.35% from RMB 5,295,085 million at the end of the previous year[127] Customer Base and Engagement - Retail customer base exceeded 200 million, with total assets under management (AUM) approaching CNY 15 trillion[9] - The total number of retail customers reached 210 million, a year-on-year increase of 6.60%[140] - The total number of corporate customers served reached 3.1664 million, up by 12.26% year-on-year[141] - The number of wealth management product holding customers reached 58.22 million, a year-on-year increase of 13.31%, reflecting enhanced service capabilities[186] Digital Transformation and Innovation - The bank launched the first open-source financial model with 100 billion parameters in the domestic banking sector[9] - The bank plans to strengthen AI and financial integration, expanding its digital capabilities and ecosystem[14] - The company aims to enhance digital capabilities and improve operational efficiency through the application of financial technology and AI[192] - The "Kaiyang Portal" open operation service platform has completed intelligent transformation for over 730 operational processes, improving the efficiency of key business processes by 58.32% compared to the end of the previous year[149] Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 2.000 per share for the 2024 fiscal year, pending shareholder approval[6] - The bank's capital growth trend remains strong, maintaining a leading dividend payout ratio[9] Awards and Recognition - The company received multiple awards in 2024, including "Best Wealth Management Bank in Asia-Pacific" and "Best Retail Bank in China" from The Asian Banker[42]