The first performance report from a major bank shows that China Merchants Bank achieved positive growth in annual profits at the "last moment."

In 2025, the first performance report of the banking industry in A-shares is a major highlight.

On the evening of January 14, China Merchants Bank announced that in 2024, the group's various businesses developed steadily, and the overall operating situation was good.

The group achieved operating income of 337.537 billion yuan, a year-on-year decrease of 1.586 billion yuan, a decline of 0.47%; total profit was 178.652 billion yuan, a year-on-year increase of 2.034 billion yuan, an increase of 1.15%; net profit attributable to the bank's shareholders was 148.391 billion yuan, a year-on-year increase of 1.789 billion yuan, an increase of 1.22%.

As of the third quarter report, in the first three quarters, the net profit attributable to the bank's shareholders was 113.18 billion yuan, a year-on-year decrease of 0.624%.

This also means that in the fourth quarter of 2024, China Merchants Bank will finally return to positive year-on-year net profit.

At the performance exchange meeting for the third quarter of China Merchants Bank, Vice President, Chief Financial Officer, and Board Secretary Peng Jiawen stated that he could not provide specific figures for annual profit growth, but overall, it can maintain a judgment of steady improvement. According to the third quarter report, most banks have shown this characteristic. One should not simply focus on the positive or negative of profits but pay more attention to the trend. From the current situation, most banks, including China Merchants Bank, are showing a trend of improvement.

As of December 31, 2024, the group's total assets were 12.15 trillion yuan, an increase of approximately 1.12 trillion yuan from the end of the previous year, an increase of 10.19%; total liabilities were nearly 10.92 trillion yuan, an increase of 975.771 billion yuan from the end of the previous year, an increase of 9.81%; the non-performing loan ratio was 0.95%, unchanged from the end of the previous year; the provision coverage ratio was 411.98%, a decrease of 25.72 percentage points from the end of the previous year; the loan provision ratio was 3.92%, a decrease of 0.22 percentage points from the end of the previous year.

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