China Minsheng Banking Corp Class H ( (CGMBF) ) has released its Q4 earnings. Here is a breakdown of the information China Minsheng Banking Corp Class H presented to its investors.
China Minsheng Banking Corp., a leading commercial bank in China, provides a wide range of financial services, focusing on supporting private enterprises and small to medium-sized businesses. In its latest earnings report, the bank highlighted its commitment to high-quality development, achieving an annual revenue of 1,362.90 billion RMB and a net profit of 322.96 billion RMB for shareholders. The bank’s total assets increased by 1.82% to 7.81 trillion RMB by the end of 2024.
Key financial metrics showed a slight decline in revenue and net profit compared to the previous year, with a 3.21% decrease in operating income and a 9.85% drop in net profit. Despite these declines, the bank maintained a stable asset quality with a non-performing loan ratio of 1.47%, a slight improvement from the previous year. The bank also emphasized its strategic focus on green finance, technology finance, and digital transformation to enhance service quality and operational efficiency.
Strategically, China Minsheng Banking Corp. has been actively supporting the real economy, particularly in green finance and technology sectors, with significant growth in loans to tech companies and green credit. The bank also reported a substantial increase in personal and small business loans, highlighting its commitment to inclusive financial services.
Looking ahead, the bank remains optimistic about its growth prospects, focusing on strengthening its customer base, optimizing its business structure, and enhancing risk management capabilities. The management is committed to leveraging technology and innovation to drive sustainable growth and improve service delivery in the coming years.