Bank of Communications (HKG:3328) Full Year 2024 Results
Key Financial Results
- Revenue: CN¥207.7b (up 3.5% from FY 2023).
- Net income: CN¥86.1b (up 1.0% from FY 2023).
- Profit margin: 42% (down from 43% in FY 2023). The decrease in margin was driven by higher expenses.
- EPS: CN¥1.16 (up from CN¥1.15 in FY 2023).
3328 Banking Performance Indicators
- Net interest margin (NIM): 1.27% (down from 1.28% in FY 2023).
- Cost-to-income ratio: 29.9% (up from 27.0% in FY 2023).
- Non-performing loans: 1.31% (down from 1.33% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bank of Communications Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 1.4%.
The primary driver behind last 12 months revenue was the Corporate Banking Business segment contributing a total revenue of CN¥110.3b (53% of total revenue). Explore how 3328's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Banks industry in Hong Kong.
Performance of the Hong Kong Banks industry.
The company's shares are up 1.7% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Bank of Communications' balance sheet and an in-depth analysis of the company's financial position.
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