Financial Performance - In 2024, the company's net interest income was RMB 21,542.7 million, a decrease of 3.2% compared to RMB 22,263.0 million in 2023[19]. - The net profit for 2024 increased by 8.2% to RMB 3,469.7 million, up from RMB 3,206.3 million in 2023[19]. - The company's operating income for 2024 was RMB 25,955.3 million, a slight decrease of 0.9% from RMB 26,183.4 million in 2023[19]. - The cost-to-income ratio improved to 38.80% in 2024, down from 40.07% in 2023[19]. - The net interest margin decreased to 1.52% in 2024, down from 1.56% in 2023[19]. - The company reported a return on average equity of 3.47% in 2024, an increase from 3.11% in 2023[19]. - The total operating income for the bank was RMB 25,955.3 million, a slight decrease from RMB 26,183.4 million in the previous year[146]. - Interest income from loans and advances was RMB 31.8418 billion, down RMB 1.783 billion or 5.3% year-on-year, attributed to the company's efforts to lower financing costs for enterprises by reducing interest rates[64]. - Interest expenses for the year ended December 31, 2024, amounted to RMB 26.493 billion, a decrease of RMB 1.949 billion or 6.9% year-on-year, primarily due to reduced interest expenses on deposits and issued bonds[73]. Asset and Liability Management - Zhongyuan Bank's total assets exceeded RMB 1.3 trillion as of the end of the reporting period[13]. - The total assets of the company reached RMB 1,365,197.0 million, reflecting a growth of 1.4% from RMB 1,346,446.5 million in 2023[22]. - Total assets reached RMB 1,365.197 billion, an increase of RMB 18.751 billion compared to the previous year[39]. - The total amount of absorbed deposits was RMB 942.459 billion, with an average interest rate of 1.98%, compared to RMB 865.444 billion and 2.28% in the previous year[75]. - The bank's total liabilities were not explicitly stated but are implied to be consistent with the growth in total assets[92]. - The balance of interbank and other financial institution deposits was RMB 52,658.6 million, up RMB 13,954.6 million, marking a 36.1% increase from the previous year[115]. Loan and Credit Quality - The non-performing loan ratio improved slightly to 2.02% in 2024, down from 2.04% in 2023[22]. - The company's non-performing loan balance was RMB 144.58 million, with a non-performing loan ratio of 2.02%, a decrease of 0.02 percentage points from the previous year[124]. - The normal loan category accounted for 94.76% of total loans, while the substandard, doubtful, and loss categories represented 0.47%, 0.16%, and 1.39% respectively[126]. - The overdue loan total was approximately RMB 292.51 billion, representing 4.09% of the total loan amount, an increase of about 0.11 percentage points from the previous year[144]. - The non-performing loan balance for mortgage loans was RMB 6,880.8 million, with an NPL ratio of 2.44% as of December 31, 2024[136]. Market Position and Recognition - In 2024, Zhongyuan Bank ranked 144th in The Banker’s list of the world's top 1,000 banks, improving by one position from the previous year[16]. - The bank received multiple awards in 2024, including the "Outstanding Brand Communication Award" and "Pioneer in Digital Transformation"[17]. - Zhongyuan Bank was recognized as one of the top 20 in ESG comprehensive performance among city commercial banks in China[17]. - In 2024, the company was awarded the "2024 Golden Quality Bank Brand" and "Outstanding Bank Wealth Management Institution" by various financial media[17]. Strategic Initiatives and Development - The bank aims to enhance its market position by focusing on high-quality development and local economic service[14]. - The bank's strategy includes continuous improvement in asset quality and operational performance to support local economic development[14]. - The company's mission is to be "the bank of the people of Central China," aligning with regional government goals[14]. - The company signed strategic cooperation agreements with nine local governments, enhancing service capabilities[40]. - The bank continues to focus on expanding its market presence and enhancing its product offerings to support future growth[100]. Customer and Service Expansion - The bank's retail customer base expanded to 35.4361 million, with an increase of 1.605 million customers, reflecting a growth rate of 4.53% year-on-year[175]. - The number of registered mobile banking users reached 17.56 million, an increase of 1.64 million compared to the end of the previous year[195]. - The bank's mobile banking service for rural areas has reached 3.4275 million users[191]. - The bank provided clearing services for 434 million transactions, amounting to RMB 142.875 billion for acquiring customers[176]. - The bank's wealth management services continued to grow, emphasizing personalized and diversified offerings for clients[177]. Digital Transformation and Technology Integration - The bank emphasized digital transformation and technology integration to enhance service quality and operational efficiency[200]. - The bank launched its first green inclusive collaborative model for green government procurement loans and green corporate overdraft products in 2024[162]. - The bank's mobile banking app version 6.0 was released, focusing on "simple, intelligent, and secure" financial services[193]. - The company has developed a comprehensive online product operating system that combines financial and non-financial services, serving 28,764 clients in financial management[164]. Awards and Recognition - The bank received multiple awards for its wealth management services, including the "Golden Hazelnut Award" and "Golden Reputation Award" in 2024[184].
中原银行(01216) - 2024 - 年度财报