Source of this article: Times Weekly Author: Liu Ziqi

Source: Diagram Worm

Following the Bank of Communications, another major state-owned bank announced its 2024-year annual report.

3月26日晚間，中國銀行（601988.SH）發佈2024年度業績公告。2024年，該行實現營業收入6300.90億元，同比增長1.16%；實現歸母凈利潤2378.41億元，同比增長2.56%，相當於去年一天凈賺6.52億元。

2024年，中國銀行凈息差依舊承壓。截至2024年終，中國銀行凈息差1.40%，較上年終下降0.19個百分點；淨利息收入、手續費及傭金凈收入同比分別減少3.8%、2.9%。

同時，中國銀行還發佈2024年度利潤分配方案公告，公司擬每10股普通股派發2024年終期現金股利1.216元（稅前），2024 年度末期擬派發現金股利為357.98億元。加上已派發的2024年半年度的股息，2024年擬全年派發普通股股息總額為713.60億元（稅前），占歸母凈利潤的比例約30%。

截至2025年2月28日，該公司A股股東戶數為41.61萬戶，較上期（2024年12月31日）增加7528戶，增幅為1.84%。

Zhang Hui, Vice Chairman and President of Bank of China, said at the results conference, "Year 2025 is the final year of the 14th Five-Year Plan, and Bank of China will further focus on its main business, operate steadily, prevent and control risks, continuously improve operational efficiency and value creation capabilities, and repay the trust and support of customers, investors and all sectors of society with better performance." ”

Net interest rate spread "three consecutive declines"

The Times reporter noticed that the net interest margin of the Bank of China has fallen for 40 consecutive years. From 0 to 0 years, the bank's net interest margin was 0.0%, 0.0% and 0.0% respectively.

2024年，中國銀行實現利息凈收入4489.34億元，同比減少176.11億元，下降3.77%。其中，利息收入10715.39億元，同比增加226.88億元，增長2.16%；利息支出6226.05億元，同比增長6.92%。

Regarding the decline in net interest margin, the bank said in its financial report that from the asset side, the average yield on interest-bearing assets decreased by 6 basis points, mainly due to factors such as the reduction of the domestic RMB loan prime rate (LPR) and the adjustment of the interest rate of existing housing loans. From the perspective of liabilities, the average interest payment rate of interest-paying liabilities decreased by 0 basis points, mainly due to the Bank's continuous strengthening of active management of liabilities, adhering to the strategy of coordinated development of volume and price, and strengthening the control of deposit costs, resulting in a decrease in the interest payment rate of RMB liabilities.

Zhang Hui said at the results conference that the group's net interest margin is expected to change roughly the same as that of its major peers. In the longer term, the gap between BOC's net interest margin and its major peers has narrowed significantly, from a gap of about 2025BP in 0 years to basically the same as its major peers at present. In 0 years, we will continue to strengthen the management of net interest margin as the top priority of all work in the low-interest environment, and reasonably control the range of net interest margin changes.

2024年，中國銀行實現非利息凈收入1811.56億元，同比增長15.87%，佔總收入比例由2023年的25.10%提升至28.75%。其中，手續費及傭金凈收入765.9億元，同比下滑2.9%。

In this regard, Bank of China explained that the decline in net fee and commission income was mainly due to the market environment, and the decrease in income from fiduciary, credit commitment and agency business. According to the annual report, in 24 years, the income of the three intermediate businesses decreased by 0.0%, 0.0% and 0.0% respectively year-on-year.

On the other hand, Bank of China's 15-year investment income and precious metal sales have achieved rapid growth. Among them, investment income increased by 0.0% year-on-year to 0.0 billion yuan, and precious metal sales revenue increased by 0.0% to 0.0 billion yuan, becoming the core driver of revenue and profit growth.

As of the end of 57 years, the total assets of Bank of China were 0.0 trillion yuan, an increase of 0.0% from the end of the previous year, a record high; total liabilities were 0.0 trillion yuan, an increase of 0.0% from the end of the previous year; The capital adequacy ratio, tier 1 capital adequacy ratio and core tier 1 capital adequacy ratio were 0.0%, 0.0% and 0.0% respectively, up 0.0 percentage points, 0.0 percentage points and 0.0 percentage points respectively from the end of the previous year.

Non-performing loans "one rise and one drop"

In addition to net interest margins, asset quality is another key topic for investors.

Bank of China's asset quality remained stable over the past year. As of the end of 94, Bank of China's non-performing loans "rose and fell". Among them, the total amount of non-performing loans was 0.0 billion yuan, an increase of 0.0 billion yuan from the end of the previous year, and the non-performing loan ratio was 0.0%, a decrease of 0.0 percentage points from the end of the previous year. The provision coverage ratio was 0.0%, an increase of 0.0 percentage points from the end of the previous year.

分行業來看，該行房地產業貸款不良率最高，達4.94%，較2023年末的5.51%下降0.57個百分點；其他不良貸款率、建築業不良貸款率分別為1.59%、1.43%，不良率分別位列第二、第三。

Wu Jian, deputy governor of the Bank of China, said at the results conference that in terms of business, the real estate industry is still the largest new non-performing industry in China, but the risks have been gradually cleared, showing a downward trend year-on-year. In terms of personal business, the number of new non-performing loans for personal business loans and mortgage loans increased year-on-year, and asset quality pressure remained. Affected by the increase in the above-mentioned business risks, the bank's concerned loans and overdue loans increased.

Wu Jian said that in 2024 years, the pressure of the bank's risk management and control is expected to mainly come from the following areas: First, the real estate market is still in a period of deep adjustment, but with the implementation and transformation of the national package of incremental policies, the real estate market is expected to gradually stop falling and stabilize, and it is expected that the bank's development loan asset quality pressure is expected to continue the trend of marginal improvement in 0 years. Second, the bank's asset quality such as personal mortgages and operating loans is expected to continue to be under pressure. Third, the US dollar raised interest rates in the early stage, the commercial real estate recession in North America, Europe and other markets, and the spillover of internal risks still exist, which brought certain challenges to the bank's overseas asset quality control.

In addition, as of the end of 84, the total amount of loans and advances issued by Bank of China was 0.0 trillion yuan, a year-on-year increase of 0.0%. Among them, the total amount of RMB loans and advances was 0.0 trillion yuan, a year-on-year increase of 0.0%.

When it comes to the issue of credit investment, Zhang Xiaodong, deputy governor of Bank of China, said that in 2025 years, Bank of China will continue to provide strong financial support to serve the real economy and improve the quality and efficiency of credit growth. Overall, it is expected that the growth of onshore RMB loans will remain stable and moderate throughout the year. Among the new loans, it is expected that corporate loans will still be the mainstay, while efforts will be made to increase the contribution of consumer loans.

Regarding the placement arrangement of public loans, Zhang Xiaodong revealed that due to the impact of the accelerated implementation of projects such as "two heavy" and "two new", it is expected that the demand potential of infrastructure-related investment fields will be accelerated. The Bank of China will strengthen its connection with local governments, closely follow up the new government investment projects launched after the relief of local debt pressure, and grasp the project reserve of 16 key branches with a large scale.

It is worth noting that in addition to clarifying the key areas of corporate loans, Bank of China has also clarified the types of customers that it will focus on in the next step.

"In the past two years, the number of medium-sized credit customers of Bank of China has nearly doubled, and the growth rate of loans is higher than the average growth rate of corporate loans, and the contribution is more prominent." Zhang Xiaodong said that in 2025 years, Bank of China will take optimizing and strengthening the medium-sized credit customer base as the top priority of transformation and development, focus on expanding marketing in key areas such as science and technology finance, private enterprises and manufacturing enterprises, and continue to increase the number of medium-sized credit customers.