PAB(000001)2025-03-21 09:56Dividend Distribution - The proposed cash dividend for 2024 is RMB 6.08 per 10 shares, totaling RMB 11.799 billion, which represents 28.32% of the net profit attributable to ordinary shareholders and 26.51% of the total net profit [1] - The interim dividend for 2024 was RMB 2.46 per 10 shares, amounting to RMB 4.774 billion, while the proposed year-end dividend is RMB 3.62 per 10 shares, totaling RMB 7.025 billion [1] - The shareholder return plan for 2024-2026 indicates that cash distributions will range from 10% to 35% of the distributable profits for the year [1] Interest Margin Outlook - The net interest margin for 2024 is projected at 1.87%, a decrease of 51 basis points year-on-year, primarily due to declining market interest rates and the reduction of high-risk retail assets [1] - For 2025, the net interest margin is expected to face downward pressure, but the decline rate is anticipated to slow down [1] Asset Quality Performance - The non-performing loan (NPL) ratio at the end of 2024 is 1.06%, unchanged from the previous year, with an NPL generation rate of 1.80%, down by 0.09 percentage points year-on-year [2] - The provision coverage ratio is 250.71%, a decrease of 26.92 percentage points from the previous year [2] Retail Loan Situation - The personal loan balance at the end of 2024 is RMB 1.7672 trillion, a decrease of 10.6% from the previous year, with mortgage loans accounting for 62.8% of personal loans [3] - Strategies include optimizing loan structures, enhancing risk management, and improving customer engagement to support long-term business health [3] Corporate Loan Direction - New corporate loans in 2024 for key industries (infrastructure, automotive, public utilities, real estate) are projected at RMB 442.5 billion, a year-on-year increase of 35.4% [4] - New loans for emerging industries (new manufacturing, new energy, new lifestyle) are expected to reach RMB 216 billion, reflecting a year-on-year growth of 41.9% [4] Wealth Management Performance - The number of wealth management clients reached 1.46 million, a growth of 5.7% year-on-year, with private banking clients increasing by 7.3% to 300,000 [5] - The assets under management (AUM) for private banking clients totaled RMB 1.9755 trillion, a 3.1% increase from the previous year [5] - Wealth management service fees amounted to RMB 4.4 billion, with a decline attributed to reduced fees in the insurance channel [5]