China Merchants Bank reports 1.15% rise in 2024 profit

China Merchants Bank (CMB) reported a 1.15% year-on-year increase in total profit to RMB 178.65 billion for 2024, based on preliminary unaudited figures. Net profit attributable to shareholders rose 1.22% to RMB 148.39 billion. Operating income dipped slightly by 0.47% to RMB 337.54 billion. Total assets grew 10.19% to RMB 12.15 trillion, while total liabilities increased 9.81% to RMB 10.92 trillion. The bank's non-performing loan ratio remained stable at 0.95%. Basic earnings per share were RMB 5.66. While the figures are unaudited and subject to change, the variance is not expected to exceed 10%.