China Merchants Bank Reports Steady Growth in 2024

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

China Merchants Bank Co., Ltd., a leading joint stock commercial bank in China, provides a wide range of wholesale and retail banking products and services, with a strong emphasis on innovation and technology. In its 2024 annual earnings report, China Merchants Bank highlighted a year of steady growth and resilience amidst challenging economic conditions. The bank reported total assets exceeding RMB12 trillion and total deposits surpassing RMB9 trillion, with a non-performing loan ratio of 0.95% and a net profit attributable to shareholders of RMB148.391 billion, marking a 1.22% year-on-year increase. The bank’s strategic focus on retail finance and wealth management was evident, with assets under management nearing RMB15 trillion and a significant increase in retail customers. Looking forward, China Merchants Bank aims to continue its transformation into a ‘Digital & Intelligent CMB,’ leveraging artificial intelligence and other technologies to enhance its service offerings and operational efficiency, while maintaining a strong risk management framework to safeguard against systemic risks.