Bei Jing Shang Bao·2025-03-28 15:44Core Insights - Six major state-owned banks in China reported a combined net profit of 1.4 trillion yuan for 2024, averaging approximately 38.29 billion yuan per day, despite challenges from declining loan market rates and overall market interest rates [1][2] Group 1: Profitability and Performance - Industrial and Commercial Bank of China (ICBC) led with a net profit of 365.86 billion yuan, a year-on-year increase of 0.5% [1] - China Construction Bank (CCB) followed with a net profit of 335.58 billion yuan, up 0.88% year-on-year [1] - Agricultural Bank of China (ABC) and Bank of China (BOC) reported net profits of 282.08 billion yuan and 237.84 billion yuan, with growth rates of 4.7% and 2.56% respectively [1] - Bank of Communications (BoCom) and Postal Savings Bank of China (PSBC) achieved net profits of 93.59 billion yuan and 86.48 billion yuan, with year-on-year growth of 0.93% and 0.24% respectively [1] Group 2: Net Interest Margin Trends - The net interest margin (NIM) for the six banks declined, with an average drop of 1 to 19 basis points compared to the previous year [1] - PSBC had the highest NIM at 1.87%, followed by CCB at 1.51% [2] - ICBC, ABC, and BOC had similar NIMs of 1.42%, 1.42%, and 1.40% respectively, while BoCom had the lowest at 1.27% [2] Group 3: Strategic Responses and Future Outlook - Banks are focusing on retail transformation, regional finance, and technology empowerment to achieve differentiated growth despite narrowing NIM and slowing profit growth [2][3] - Management emphasized the importance of stabilizing NIM and enhancing profitability, with strategies including optimizing asset-liability structures and managing loan pricing [2][3] - Looking ahead to 2025, banks anticipate continued NIM pressure but expect the decline to be less severe than in previous years, with a focus on balancing growth and risk management [3]