BANK OF CHINA(601988) 搜狐财经·2025-03-26 15:09Core Viewpoint - In 2024, Bank of China reported a net profit of 237.84 billion yuan, reflecting a year-on-year growth of 2.56%, while total revenue reached 632.77 billion yuan, up 1.38% from the previous year [3][17]. Financial Performance - The bank's total assets amounted to 35,061.30 billion yuan, an increase of 8.11% year-on-year, while total liabilities rose by 8.20% to 32,108.34 billion yuan [4]. - The net interest income decreased by 3.77% to 448.93 billion yuan, with interest income increasing by 2.16% to 1,071.54 billion yuan [8][11]. - Non-interest income grew by 15.87% to 181.16 billion yuan, driven by a significant increase in investment income [10][11]. Loan and Deposit Trends - The total amount of loans and advances reached 21,594.07 billion yuan, marking an 8.18% increase year-on-year [5]. - The bank's deposit balance increased by 5.66% to 24,202.59 billion yuan, with a notable rise in time deposits despite a general decline in interest rates [4][5]. Asset Quality - The non-performing loan (NPL) ratio slightly decreased to 1.25%, with the total NPL balance rising to 268.78 billion yuan [13][14]. - The bank's provision coverage ratio improved to 200.60%, indicating enhanced asset quality management [13]. Technology and Innovation - Bank of China invested 23.81 billion yuan in technology, representing 3.76% of its operating income, and increased its technology workforce by 2,234 employees [16]. - The bank actively explored the application of artificial intelligence, enhancing its operational efficiency and customer experience through various technological innovations [16]. Market Outlook - The bank's profitability may face pressure in 2025 due to potential interest rate cuts by the Federal Reserve, which could impact foreign currency asset yields [17].