China Construction Bank (939) Q4 2024 earnings summary

Executive summary

• Net profit reached RMB 336.3 billion in 2024, up 1.15% year-on-year, with total assets surpassing RMB 40 trillion, reflecting robust growth and high asset quality.

• Maintained industry-leading metrics: ROA at 0.85%, ROE at 10.69%, NIM at 1.51%, and capital adequacy ratio at 19.69%.

• Strategic focus on technology, green, inclusive, and digital finance, with green loans at RMB 4.7 trillion and inclusive finance loans at RMB 3.41 trillion.

• Enhanced support for the real economy, SMEs, infrastructure, and pension finance, with personal pension accounts surpassing 23 million.

• Achieved global recognition, ranking 2nd in The Banker’s Top 1000 World Banks and 7th in Forbes Global 2000.

Financial highlights

• Operating income was RMB 728.6 billion; net profit rose 1.15% to RMB 336.3 billion in 2024.

• Total assets reached RMB 40.57 trillion; customer deposits increased to RMB 35.15 trillion.

• Non-interest income increased 8% to RMB 138.7 billion, while commission income declined 9.35% to RMB 104.9 billion.

• Cost-to-income ratio was 29.58%; capital adequacy ratio stood at 19.69%.

• Credit impairment losses dropped 11.75% to RMB 120.7 billion.

Outlook and guidance

• Plans to maintain stable loan growth, optimize asset and debt structure, and increase non-interest income.

• Focus on high-quality development, risk control, digital transformation, and supporting national strategies.

• Will deepen technology, green, inclusive, and pension finance, and enhance risk management.