Di Yi Cai Jing·2025-04-03 14:12Core Insights - The six major state-owned banks in China have shown steady growth in their financial performance, with total assets nearing 200 trillion yuan and a slight increase in profitability despite challenges such as narrowing interest margins and asset-liability issues [1][2]. Financial Performance - In 2024, the six banks collectively achieved an operating income of approximately 3.52 trillion yuan, a slight decrease of 0.3% year-on-year, with four banks reporting positive growth [2][3]. - The net profit attributable to shareholders for the six banks reached 1.4 trillion yuan, an increase of about 245 billion yuan or 1.8% compared to the previous year [2]. Revenue Breakdown - Interest income for the six banks decreased by 1.58%, with three banks reporting increases and three reporting declines [4]. - Non-interest income saw a significant increase of 34.1% year-on-year, driven by factors such as a favorable bond market [4]. Asset and Loan Growth - Total assets of the six banks reached 199.68 trillion yuan, an increase of approximately 15 trillion yuan or 7.87% from the beginning of the year [7][8]. - The total amount of loans and advances exceeded 118 trillion yuan, with an increase of 9.55 trillion yuan or 8.85% year-on-year [7][8]. Credit Allocation - The banks have maintained strong support for key sectors, with significant loan growth in manufacturing, strategic emerging industries, and green development [9][10]. - Despite a slowdown in new credit issuance, the banks continue to support the real economy, particularly in critical areas [9]. Liability Management - Total liabilities for the six banks were approximately 184 trillion yuan, reflecting an increase of 8.01% from the beginning of the year [10]. - The total deposits reached about 142 trillion yuan, with a growth of 6.66 trillion yuan or 4.91% year-on-year, although there was a noticeable outflow of corporate deposits [10][11]. Asset Quality - The overall asset quality has improved, with most banks reporting a stable or declining non-performing loan (NPL) ratio [13][14]. - However, there is a rising trend in NPLs within retail sectors such as personal housing loans and credit cards [13][15]. Support for Private Enterprises - The banks have committed to supporting private enterprises, with significant loan balances reported, particularly by Agricultural Bank and Construction Bank [16][17]. - The focus on financing for private enterprises is expected to continue, with plans for substantial credit support in the coming years [17].