INDUSTRIAL BANK(601166) 南方都市报· Nan Fang Du Shi Bao·2025-03-28 01:56Core Viewpoint - In 2024, Industrial Bank achieved a turnaround with a slight increase in revenue and net profit after experiencing declines in 2023, indicating a recovery in financial performance [1][2]. Financial Performance - The bank reported operating income of 212.23 billion yuan, a year-on-year increase of 0.66% [1][2]. - Net profit attributable to shareholders reached 77.21 billion yuan, reflecting a 0.12% growth compared to the previous year [1][2]. - Total assets stood at 10.51 trillion yuan, up 3.44% from the end of the previous year [1][2]. Revenue Breakdown - Net interest income was 148.11 billion yuan, increasing by 1.09% year-on-year, driven by stable growth in average interest-earning assets [2]. - Non-interest income was 64.12 billion yuan, a decrease of 0.32%, primarily due to regulatory impacts on insurance and a decline in fee income [2]. Asset Quality - Non-performing loan (NPL) balance was 61.48 billion yuan, with an NPL ratio of 1.07%, remaining stable compared to the previous year [5][6]. - The bank's provision coverage ratio was 237.78%, down 7.43 percentage points from the previous year [5]. Retail Lending - Personal mortgage loans amounted to 1.09 trillion yuan, up 1.08% year-on-year [3]. - Personal consumption loans increased by 13.18% to 97.31 billion yuan [3]. - Personal business loans grew by 8.12% to 351.85 billion yuan [3]. Dividend Policy - The bank plans to distribute a dividend of 1.06 yuan per share, marking a payout ratio of 30.17%, the first time exceeding 30% [1][8]. - A 2025 valuation enhancement plan was announced, aiming to increase dividend frequency and maintain predictable shareholder returns [8]. Management Compensation - Total compensation for directors and senior management decreased by 15.93% to 16.33 million yuan [7]. - The bank implemented cost control measures, including a reduction in employee salaries [7].