CCB(601939) 华夏时报·2025-03-29 02:35Core Insights - Construction Bank reported a total asset of over 40 trillion yuan and a net profit of 336.28 billion yuan for 2024, with a net interest margin of 1.51%, maintaining a leading position among peers [1][5] - The bank's personal loans and inclusive finance loans have shown significant growth, with personal consumption loans increasing by 25.21% and personal business loans by 31.41% [1][5] - The bank plans to adapt to a low-interest-rate environment by enhancing retail credit, high-value deposits, and non-interest income while deepening cost control [1][6] Personal Loan Performance - As of the end of 2024, the domestic personal loan and advance balance reached 8.87 trillion yuan, a year-on-year increase of 196.54 billion yuan, representing a growth rate of 2.27% [2] - The personal housing loan balance decreased to 6.19 trillion yuan, down by 198.67 billion yuan, a decline of 3.11% due to market conditions [2] - The bank's daily acceptance of personal housing loans increased significantly in Q4, with a month-on-month rise of 73% and a year-on-year rise of 35% [2] Asset Quality - As of the end of 2024, the non-performing loan balance was 344.69 billion yuan, an increase of 19.43 billion yuan, with a non-performing loan ratio of 1.34%, down by 0.03 percentage points [4] - The non-performing rate for personal housing loans was 0.63%, indicating manageable risk levels compared to peers [4] - The bank is implementing measures to alleviate repayment pressure for clients facing income fluctuations [4] Retail Banking Strategy - The bank's retail banking strategy, termed "New Retail 2.0," has shown initial success, with personal consumption loans reaching 527.90 billion yuan and personal business loans at 1.02 trillion yuan [5][6] - The bank became the first in the country to have credit card loans exceed 1 trillion yuan, driven by enhanced online and offline product offerings [6] - The bank aims to further increase the proportion of retail credit in 2025, focusing on stable growth in entity loans and core deposits [6][7] Future Outlook - The bank plans to leverage supportive policies in the real estate market to strengthen its personal housing loan offerings and expand consumer finance activities [7] - The overall strategy includes optimizing asset and liability structures, maintaining a leading net interest margin, and enhancing non-interest income [6][7]