China CITIC Bank Corporation Class H ( (CHBJF) ) has released its Q4 earnings. Here is a breakdown of the information China CITIC Bank Corporation Class H presented to its investors.
China CITIC Bank Corporation, Class H, is a prominent financial institution operating primarily in the banking sector, offering a wide range of financial services including wholesale banking, personal and business banking, and treasury and market services. The company’s latest earnings report for 2024 highlights a solid financial performance with a 5.8% increase in operating income, reaching HK$10.58 billion. Net profit after tax rose by 6.0% to HK$2.74 billion, and the bank maintained a capital adequacy ratio of 18.9%, meeting regulatory requirements.
Key financial metrics from the report include a 0.8% increase in net interest income to HK$7.67 billion and a notable 21.7% growth in non-interest income to HK$2.92 billion. Operating expenses decreased by 2.2%, contributing to an 11.5% rise in operating profit before impairment, which stood at HK$6.52 billion. The bank’s total assets grew by 4.0% to HK$489.30 billion, with customer deposits increasing by 9.0% to HK$373.07 billion.
The bank’s core businesses showed mixed results, with the wholesale banking segment experiencing a 14.1% decline in operating income, while customer loans increased by 2.9%. The treasury and markets business saw a significant 24.9% rise in operating income, driven by a 41.8% increase in macro trading volumes. Personal and business banking reported a 30.7% increase in operating income, supported by a nearly 40% growth in non-interest income and a 21.5% rise in total deposits.
Looking ahead, China CITIC Bank Corporation remains focused on enhancing its service capabilities and product solutions, particularly in the personal and business banking segment. The introduction of the ‘Small Business Banking Loan’ product is expected to foster growth among small and medium-sized enterprise customers. The bank’s management is optimistic about maintaining its growth trajectory while navigating the challenges of the financial market landscape.