Stable Quality Improvement: China Construction Bank's net profit growth of 1.15% in 2024, with annual dividends exceeding 100 billion

On March 28, China Construction Bank announced a net profit of RMB 336.282 billion for 2024, an increase of 1.15%.

As of the end of 2024, the total assets of China Construction Bank Group reached RMB 40.57 trillion, an increase of 5.86%. Among them, the net amount of loans and advances was RMB 25.04 trillion, an increase of 8.48%. The total liabilities amounted to RMB 37.23 trillion, an increase of 5.90%. The balance of deposits was RMB 28.71 trillion, an increase of 3.83%. The interest rate on deposits was 1.65%, a year-on-year decrease of 12 basis points, with a significant improvement in interest costs.

The overall asset quality remained stable. The non-performing loan ratio was 1.34%, a decrease of 0.03 percentage points from the previous year; the proportion of special mention loans was 1.89%, a decrease of 0.55 percentage points from the previous year; the provision coverage ratio was 233.60%, indicating sufficient risk compensation capacity.

At the same time, the dividend payout ratio remained at a favorable level. The board of directors proposed a final cash dividend of RMB 0.206 per share (tax included) for the end of 2024, with a total cash dividend of RMB 0.403 per share (tax included) for the entire year of 2024, amounting to approximately RMB 100.754 billion in total dividends, accounting for 30% of the net profit attributable to the shareholders of the bank under the group’s scope for 2024.

Fully Serving the Real Economy

In 2024, China Construction Bank supported the implementation of an active fiscal policy, maintaining stable growth in bond investments, with financial investments increasing by RMB 1.05 trillion compared to the previous year, an increase of 10.85%. The bank actively leveraged its investment and financing advantages in infrastructure and industrial supply chains to fully support the "two 重" and "two 新"; the balance of loans to private enterprises was RMB 5.99 trillion, an increase of 11.01%; loans directed to the manufacturing sector amounted to RMB 3.04 trillion, an increase of 12.25%; the balance of loans to strategic emerging industries was RMB 2.84 trillion, an increase of 26.63%.

Assisting in boosting consumption to benefit people's livelihoods. The bank actively leveraged its advantages in retail credit, intensifying efforts to promote the implementation of financial support for the replacement of old consumer goods with new ones. The balance of personal consumption loans was RMB 527.895 billion, an increase of 25.21%; the balance of credit card loans was the first in the industry to exceed RMB 1 trillion. "CCB Life" facilitated RMB 7.429 billion in consumption subsidies across 196 cities, driving a total of RMB 74.2 billion in consumer spending.

Fully implementing a package of incremental policies. Effectively implementing the urban real estate financing coordination mechanism, solidly advancing work such as "ensuring housing delivery" and expanding the "white list" to enhance efficiency, strongly supporting the construction of the "three major projects." Efficiently promoting the adjustment of personal housing loan interest rates to help reduce residents' financing costs. Expanding industry scenarios, strengthening product renewal supply, and deepening the implementation of financing coordination mechanisms for small and micro enterprises. Increasing stock repurchase and loan issuance, promoting the pilot business fund for equity investment by Asset Investment Companies (AIC) in Beijing, Shanghai, Suzhou, and Hefei.

Supporting high-level opening up. Strengthening integrated services for domestic and foreign currencies, ensuring stable foreign trade and foreign investment services, with a total trade financing issuance of RMB 2.15 trillion for the year, and cross-border RMB settlement exceeding RMB 5 trillion. The cumulative clearing amount of the UK RMB clearing bank exceeded RMB 126 trillion, maintaining its position as the largest RMB clearing bank outside Asia. Strongly supporting the regional economic integration of RCEP and providing comprehensive financial support for the high-quality co-construction of the "Belt and Road."

Do a Good Job in the "Five Major Financial Articles"

In 2024, China Construction Bank (CCB) will improve quality and efficiency, deepening comprehensive services in financial technology. It will innovate evaluation tools for technological innovation such as "technology flow" and "investment flow," promote internal assessment methods for intellectual property pledge financing, and enhance the accessibility of financing for technology-based enterprises. The bank will accelerate the construction of specialized institutions in technology finance, supporting differentiated policies. It will increase financial supply for "equity-loan-debt guarantee," injecting strong momentum into the development of new productive forces.

In terms of green finance, it will enrich the product spectrum. A green development coordination mechanism will be established to fully leverage the group's multi-license advantages and strengthen green product innovation. The balance of green loans reached 4.70 trillion yuan, with an increase of 20.99%; it participated in underwriting 112 domestic and foreign green and sustainable development bonds, with an issuance scale of 186.39 billion yuan. The bank will promote the development of green investment and financing businesses in its subsidiaries, widely supporting green industries.

In inclusive finance, it will expand coverage and improve quality. The total supply of inclusive finance credit has steadily increased, with an inclusive finance loan balance of 3.41 trillion yuan; it served 3.36 million customers, an increase of 185,100 from the previous year. The bank will deeply integrate online and offline services to meet the full lifecycle needs of enterprises. The "CCB Huidongni" platform has registered 24.51 million individual users and certified 14.14 million enterprises; approximately 14,000 outlets provide inclusive finance services, with over 22,000 dedicated personnel, and 2,880 inclusive finance specialty outlets have been established.

Accelerating the construction of a pension finance ecosystem. The group will launch a unified brand for pension finance, "Jianyang An," and create a "specialized bank for pension finance." It will steadily expand social security card services, focusing on enhancing the card usage experience. The bank will actively expand the coverage of the annuity system, with the asset management scale of the Jianxin Pension second pillar exceeding 620 billion yuan. It will initiate the "Pension China Tour" campaign to actively support the nationwide promotion of the personal pension system. Innovative pension service loan products will be introduced, prioritizing the pension industry for credit support. A mobile banking "Anxin Version" pension section will be launched, creating 60 "Jianyang An" pension finance specialty outlets to comprehensively enhance elderly-friendly service levels.

Digital finance empowers the integration of digital and real economies. The bank supports the development of digital industrialization, with loans for core digital economy industries nearing 800 billion yuan. It will enhance the effectiveness of digital empowerment businesses, maintaining industry-leading overall computing power and service capabilities for "CCB Cloud." The number of users for mobile banking and CCB Life, the "twin stars," reached 521 million, with 184 million financial transaction users that year.

China Construction Bank (CCB) stated that 2025 is the concluding year of the "14th Five-Year Plan" and the planning year for the "15th Five-Year Plan." The bank will adhere to the fundamental principles of further enhancing its ability to serve national construction, prevent financial risks, and participate in international competition, firmly uphold its main responsibilities, strengthen development confidence, maintain strategic determination, and be a provider of financial services, a co-builder of industrial transformation, and a creator of social value, paving the way for more efficient, sustainable, and safer high-quality development