CHINA CITIC BANK (998) Q1 2025 earnings summary

Executive summary

• Achieved net profit attributable to equity holders of RMB19.509 billion for Q1 2025, up 1.66% year-over-year, with operating income of RMB51.614 billion, down 3.65% year-over-year.

• Total assets reached RMB9,855.268 billion, up 3.38% from the end of 2024; total loans and advances to customers increased 2.55% to RMB5,866.027 billion.

• Total deposits from customers rose 4.31% to RMB6,027.267 billion; net cash inflows from operating activities were RMB37.993 billion, reversing last year’s outflows.

Financial highlights

• Net interest income grew 2.05% year-over-year to RMB35.677 billion; net non-interest income fell 14.36% due to lower securities investment income.

• Net interest margin was 1.65%, down 5 basis points year-over-year.

• Basic and diluted EPS were RMB0.36, down from RMB0.39 and RMB0.38, respectively, in Q1 2024.

• Annualized ROA was 0.83% (down 0.03pp), and annualized ROE was 11.40% (down 0.91pp) year-over-year.

Outlook and guidance

• Continued focus on supporting the real economy, optimizing asset and liability structure, and enhancing risk management.

• Emphasis on technology, green, inclusive, and pension finance, as well as digital transformation and comprehensive financial services.