Industrial and Commercial Bank of China Class H ( (IDCBF) ) has released its Q4 earnings. Here is a breakdown of the information Industrial and Commercial Bank of China Class H presented to its investors.
The Industrial and Commercial Bank of China Limited (ICBC) is a major financial institution based in China, operating primarily in the banking sector with a focus on providing a wide range of financial services including corporate and personal banking, treasury operations, and investment banking.
ICBC’s latest earnings report for the year ending December 31, 2024, highlights a slight increase in net profit to RMB 366,946 million, reflecting a 0.5% year-on-year growth. The bank’s total assets grew by 9.2% to RMB 48,821,746 million, while the non-performing loan ratio improved slightly to 1.34%.
Key financial metrics indicate a decrease in net interest income by 2.7% to RMB 637,405 million, while operating income fell by 2.5% to RMB 786,126 million. The bank’s capital adequacy ratio improved to 19.39%, and its allowance to non-performing loans increased to 214.91%. The bank also reported significant growth in loans to key sectors such as manufacturing and green finance.
Looking ahead, ICBC’s management remains focused on enhancing its core competitiveness and pursuing high-quality development. The bank aims to continue supporting China’s economic growth through strategic investments and innovations in financial technology, while maintaining a strong risk management framework.