Bank of Communications achieves steady growth, proposes dividend hike

Bank of Communications (BoCom) reported a steady performance for 2024, with a proposed cash dividend of RMB 0.197 per share (pre-tax), up from RMB 0.182 in the prior year, to be approved at the upcoming AGM in April. Net profit attributable to shareholders reached RMB 93.59 billion, a slight increase of 0.93%. BoCom demonstrated resilience with a 3.48% rise in net interest income, while maintaining asset quality as non-performing loan ratio declined to 1.31% and 201.94% in provision coverage ratio.