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China CITIC Bank Full Year 2024 Earnings: EPS Misses Expectations
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China CITIC Bank (HKG:998) Full Year 2024 Results

Key Financial Results

  • Revenue: CN¥152.6b (up 6.0% from FY 2023).
  • Net income: CN¥63.8b (up 2.5% from FY 2023).
  • Profit margin: 42% (down from 43% in FY 2023). The decrease in margin was driven by higher expenses.
  • EPS: CN¥1.22.

998 Banking Performance Indicators

  • Net interest margin (NIM): 1.77% (down from 1.78% in FY 2023).
  • Cost-to-income ratio: 32.5% (up from 32.4% in FY 2023).
  • Non-performing loans: 1.16% (down from 1.18% in FY 2023).
revenue-and-expenses-breakdown
SEHK:998 Revenue and Expenses Breakdown March 31st 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

China CITIC Bank EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.1%.

The primary driver behind last 12 months revenue was the Corporate Banking segment contributing a total revenue of CN¥79.2b (52% of total revenue). The largest operating expense was General & Administrative costs, amounting to CN¥65.5b (75% of total expenses). Explore how 998's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Banks industry in Hong Kong.

Performance of the Hong Kong Banks industry.

The company's shares are down 2.4% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for China CITIC Bank you should be aware of.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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