Bank of Communications Co. Reports Stable 2024 Earnings

Bank of Communications Co Class H ( (BKFCF) ) has released its Q4 earnings. Here is a breakdown of the information Bank of Communications Co Class H presented to its investors.

Bank of Communications Co., Ltd., a major financial institution in China, operates in the banking sector, providing a range of financial services including loans, deposits, and investment services. The company is known for its extensive network and significant government ownership.

The latest earnings report for Bank of Communications Co. Class H reveals a stable financial performance for the year ending December 31, 2024. The bank reported slight increases in net profit and net operating income, while maintaining a strong asset base and improving asset quality.

Key financial metrics include a net profit attributable to shareholders of RMB 93.586 billion, marking a 0.93% increase from the previous year. The bank’s total assets grew by 5.98% to RMB 14.9 trillion, with loans and advances to customers rising by 7.52%. The non-performing loan ratio improved slightly to 1.31%, and the provision coverage ratio increased to 201.94%. Despite a decrease in net fee and commission income, the bank managed to increase its net interest income by 3.48%.

Looking ahead, Bank of Communications remains focused on enhancing its financial supply structure and maintaining stability in its operations. The management aims to continue optimizing its asset and liability management while supporting national economic strategies and key sectors. The bank’s robust capital adequacy and leverage ratios position it well for future growth and resilience in the financial markets.