BANK COMM(HK:03328)2025-04-24 08:31Dividend Distribution - The company plans to distribute a cash dividend of RMB 0.197 per share to ordinary shareholders, totaling RMB 14.63 billion based on 74.263 billion shares outstanding[5] - The company reported a cash dividend distribution of RMB 0.182 per share for the first quarter of 2025[5] - Cash dividend distribution for 2023 is RMB 0.375 per share, maintaining a dividend payout ratio above 30% for 12 consecutive years[32] - The company plans to implement a mid-term dividend policy starting in 2024, with a cash dividend of RMB 0.182 per share[32] Financial Performance - Net interest income for 2024 reached RMB 169,832 million, a slight increase from RMB 164,123 million in 2023[24] - Net fee and commission income decreased to RMB 36,914 million in 2024 from RMB 43,004 million in 2023, representing a decline of approximately 14.5%[24] - Total assets increased to RMB 14,900,717 million in 2024, up from RMB 14,060,472 million in 2023, marking a growth of about 6%[24] - Customer loans rose to RMB 8,555,122 million in 2024, compared to RMB 7,957,085 million in 2023, reflecting an increase of approximately 7.5%[24] - Net profit attributable to shareholders reached RMB 93,586 million in 2024, slightly up from RMB 92,728 million in 2023, indicating a growth of about 0.9%[24] - The non-performing loan ratio improved to 1.31% in 2024 from 1.33% in 2023, showing a positive trend in asset quality[24] - The capital adequacy ratio increased to 16.02% in 2024, up from 15.27% in 2023, indicating stronger capital position[24] - Annual operating revenue grew by 0.87% year-on-year, while net profit attributable to the parent company increased by 0.93%[38] Risk Management - The company faces various risks including credit risk, market risk, operational risk, and compliance risk, and has implemented measures to manage these risks effectively[5] - The company emphasizes the importance of risk awareness regarding forward-looking statements and plans[5] - The bank's strategic focus includes risk management and maintaining financial stability while serving the real economy[21] - The company aims to strengthen risk management capabilities, achieving a provision coverage ratio exceeding 200%[32] Market Presence and Expansion - The company is focused on expanding its market presence and enhancing its product offerings in the financial services sector[12] - The bank aims to build a world-class banking group with a focus on green finance and digital transformation[20] - The bank is expanding its financial services network along the "Belt and Road" initiative, including the establishment of a branch in Dubai[28] - The company is committed to creating shared value and enhancing its corporate governance practices[4] Customer Base and Services - The bank serves 2.84 million corporate clients and 199 million retail customers through over 2,800 domestic branches and 24 overseas branches[20] - The company operates under the brand "Yuntong" for its digital services, aiming to meet customer needs through online service models[12] - The company has a unified brand for inclusive finance services, including online and offline products[12] - The retail customer base grew to 199 million, with high-end customers increasing by 9.86% to 2.75 million[137] Asset Management and Loans - The bank's asset management capabilities have been recognized with a five-level certification in Data Management Capability Maturity Model (DCMM)[23] - The total assets of the group reached CNY 14.90 trillion, an increase of 5.98% compared to the end of the previous year[46] - Customer loan balance increased by CNY 598.04 billion, with a growth rate of 7.52%[46] - Corporate loans amounted to CNY 5,566.58 billion, up CNY 387.05 billion or 7.47%[83] - Personal loans totaled CNY 2,752.41 billion, an increase of CNY 279.31 billion or 11.29%[83] Technology and Innovation - The company aims to enhance its digital finance capabilities through the establishment of a digital finance committee and the integration of AI technologies[126] - The company has launched new wealth management products, including commercial pension insurance and family service trusts, to meet customer needs[141] - The company has issued financing amounting to CNY 306.142 billion through its open banking online chain financial services, reflecting a year-on-year growth of 45.04%[180] Awards and Recognition - The bank has received multiple awards, including the first prize for Financial Technology Development from the People's Bank of China[23] - The bank is committed to providing high-quality financial services and creating more value for shareholders[21] - The company has been awarded the "Best Financial Institution for Green Finance Cases" for 2024, highlighting its commitment to sustainable finance[124] International Operations - The company has established 24 overseas branches and representative offices in major cities including Hong Kong, New York, and London, with a total of 66 overseas business outlets providing comprehensive financial services[169] - The company expanded its cross-border e-commerce platform, with the volume of foreign-related guarantees increasing by 99.37% year-on-year[168] - The cross-border RMB settlement volume reached CNY 1.94 trillion, representing a year-on-year growth of 2.15%[170]