China CITIC Bank Full Year 2024 Earnings: EPS Misses Expectations

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.

Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit.

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).

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.