China Merchants Bank reports slight profit growth in 2024

China Merchants Bank (CMB) reported a 1.22% year-on-year increase in net profit attributable to shareholders, reaching RMB 148.391 billion in 2024. Operating income dipped slightly by 0.47% to RMB 337.537 billion. Total assets grew by 10.19% to RMB 121.52 trillion, while liabilities increased by 9.81% to RMB 109.185 trillion. The bank's non-performing loan ratio remained stable at 0.95%, but the provision coverage ratio decreased to 411.98% from 437.70% in 2023. Basic earnings per share were RMB 5.66. These figures are preliminary and unaudited. The bank emphasized its steady business operations and sound overall performance during 2024.