CNCB(SH:601998) Jin Rong Jie·2025-03-26 11:52Core Insights - CITIC Bank reported a net profit of 68.576 billion yuan for 2024, reflecting a year-on-year growth of 2.33%, amidst a complex economic environment [1] - The bank's total operating income reached 213.646 billion yuan, an increase of 3.76% compared to the previous year [1] - The bank's asset scale surpassed 9.5 trillion yuan, with a non-performing loan ratio reduced to 1.16% and a provision coverage ratio increased to 209.43% [1] Financial Performance - Total assets amounted to 95,327.22 billion yuan, growing by 5.31% year-on-year [2] - Total loans and advances reached 57,201.28 billion yuan, up by 4.03% [2] - Customer deposits totaled 57,782.31 billion yuan, with a growth rate of 7.04% [2] - Non-interest income was 66.967 billion yuan, marking a 7.39% increase, driven by wealth management and transaction settlement services [2] Loan Growth and Quality - The bank's loans to key sectors of the real economy grew significantly, with green credit balance exceeding 600.565 billion yuan, up by 30.84% [3] - Loans to strategic emerging industries reached 643.954 billion yuan, an increase of 21.07% [3] - The balance of loans for the manufacturing sector grew by 16.26% to 300.613 billion yuan [3] - Inclusive small and micro loans reached 599.825 billion yuan, growing by 10.04% [3] Strategic Initiatives - CITIC Bank's "Five Leading" strategy focuses on creating differentiated competitive advantages, particularly in wealth management and cross-border financial services [4] - The bank's wealth management assets and corporate wealth management scale have shown steady growth, with wealth management products nearing 2 trillion yuan, growing over 15% [4] - The bank aims to deepen its "Five Leading" strategy towards 2025, focusing on stabilizing net interest margins, maintaining quality, and expanding customer base [5]