In This Article:
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Operating Income: RMB349.133 billion, a year-on-year increase of 1.81%.
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Net Profit Attributable to Parent Company: RMB86.479 billion, YoY growth rate of 0.24%.
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Total Assets: Exceeded RMB17 trillion, an increase of 8.64%.
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Total Liabilities: RMB16 trillion, an increase of 8.69%.
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Net Interest Income Growth: 1.53%.
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Net Interest Margin (NIM): 1.87%.
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Interest Rate Paid on Deposit: 1.44%, the lowest among listed banks.
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Non-Performing Loan (NPL) Ratio: 0.9%.
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Newly Happened NPL Ratio: 0.84%.
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Allowance to NPL Ratio: 286.15%.
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Corporate Revenue Increase: 17% year-on-year.
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Fee-Based Income Increase: 43% year-on-year.
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Other Non-Interest Income Increase: 14.82% year-on-year.
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AUM Scale: Reached RMB16.69 trillion.
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Consumer Loans Growth: Increased by more than RMB130 million.
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Housing Loan Growth: Ranked first among state-owned banks.
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Corporate Bond Investment Increase: 21.21%.
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PSBC Wealth Management Increase: 32%, ranking top among major state-owned banks.
Release Date: April 02, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Postal Savings Bank Of China Co Ltd (PSTVY) achieved operating income of RMB349.133 billion in 2024, marking a year-on-year increase of 1.81%.
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The bank's net profit attributable to the parent company was RMB86.479 billion, with a YoY growth rate of 0.24%.
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Total assets exceeded RMB17 trillion, an increase of 8.64%, demonstrating strong asset growth.
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The bank maintained a low non-performing loan (NPL) ratio of 0.9%, indicating good asset quality.
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Postal Savings Bank Of China Co Ltd (PSTVY) received a capital injection from the Ministry of Finance, enhancing its capital base and future growth potential.
Negative Points
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The banking industry faces pressure on retail loan asset quality, with a noted increase in NPLs for personal loans.
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The net interest margin (NIM) is under pressure due to a low interest rate environment, affecting profitability.
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There is increased competition in the deposit market, which may impact the bank's ability to maintain low interest costs.
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The bank's reliance on agency deposits poses challenges in a low interest rate environment, necessitating adjustments to the agency fee structure.
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The macroeconomic environment, including the real estate market decline, poses risks to asset quality and loan performance.
Q & A Highlights
Q: What are the plans and outlook for the future development of Postal Savings Bank of China (PSBC) as the 14th five-year plan ends and the 15th begins? A: Guoyu Zheng, Chairman of the Board, stated that PSBC will accelerate strategic optimization to build a top-tier retail bank that is inclusive, balanced, resilient, intelligent, and dynamic. The bank aims to provide high-quality financial services, enhance digitalization, and maintain a prudent risk appetite to achieve sustainable growth.