As at 31 December 2024, the Group’s total assets amounted to RMB12,075,425 million, representing an increase of RMB744,505 million, or 6.6%, as compared to the end of the previous year, mainly due to the increase in loans and advances and financial asset investments. The Group’s total liabilities amounted to RMB10,652,411 million, representing an increase of RMB658,273 million or 6.6% from the end of last year, mainly due to the increase in deposits and issued debt instruments. Ordinary shareholders’ equity amounted to RMB757,487 million, representing an increase of RMB54,309 million or 7.7% from the end of last year, mainly due to the retention of profit of the current year.
| RMB million | As at 31 December 2024 | As at 31 December 2023 | Increase/(Decrease) Amount % | |
|---|---|---|---|---|
| Total assets | 12,075,425 | 11,330,920 | 744,505 | 6.6% |
| Loans and advances to customers and other parties | 5,601,071 | 5,380,140 | 220,931 | 4.1% |
| Investments in financial assets | 3,538,851 | 3,356,367 | 182,484 | 5.4% |
| Cash and deposits | 608,487 | 625,135 | (16,648) | (2.7%) |
| Trade and other receivables | 266,387 | 254,452 | 11,935 | 4.7% |
| Fixed assets | 218,052 | 210,719 | 7,333 | 3.5% |
| Placement with banks and non-bank financial institutions | 404,801 | 237,742 | 167,059 | 70.3% |
| Total liabilities | 10,652,411 | 9,994,138 | 658,273 | 6.6% |
| Deposits from customers | 5,847,939 | 5,459,993 | 387,946 | 7.1% |
| Deposits from banks and non-bank financial institutions | 935,159 | 893,565 | 41,594 | 4.7% |
| Debt instruments issued | 1,497,138 | 1,221,107 | 276,031 | 22.6% |
| Borrowing from central banks | 124,151 | 273,226 | (149,075) | (54.6%) |
| Trade and other payables | 385,896 | 391,948 | (6,052) | (1.5%) |
| Bank and other loans | 245,566 | 235,770 | 9,796 | 4.2% |
| Total ordinary shareholders’ funds | 757,487 | 703,178 | 54,309 | 7.7% |
Loans and advances to customers and other parties
As at 31 December 2024, the loans and advances to customers and other parties of the Group was RMB5,601,071 million, an increase of RMB220,931 million, or 4.1%, compared to 31 December 2023. The proportion of loans and advances to customers and other parties to total assets was 46.4%, a decrease of 1.1 percentage points compared to 31 December 2023.
| RMB million | As at 31 December 2024 | As at 31 December 2023 | Increase/(Decrease) Amount % | |
|---|---|---|---|---|
| Loans and advances to customers and other parties at amortised cost | ||||
| Corporate loans | 2,816,000 | 2,625,019 | 190,981 | 7.3% |
| Discounted bills | 2,182 | 1,784 | 398 | 22.3% |
| Personal loans | 2,372,428 | 2,294,540 | 77,888 | 3.4% |
| Accrued interest | 21,889 | 20,188 | 1,701 | 8.4% |
| Total loans and advances to customers and other parties at amortised cost | 5,212,499 | 4,941,531 | 270,968 | 5.5% |
| Impairment allowances | (146,013) | (139,679) | (6,334) | (4.5%) |
| Carrying amount of loans and advances to customers and other parties at amortised cost | 5,066,486 | 4,801,852 | 264,634 | 5.5% |
| Loans and advances to customers and other parties at fair value through profit or loss | ||||
| Corporate loans | 11,243 | 5,558 | 5,685 | 102.3% |
| Personal loans | 369 | - | 369 | 100.0% |
| Carrying amount of loans and advances to customers and other parties at fair value through profit or loss | 11,612 | 5,558 | 6,054 | 108.9% |
| Loans and advances to customers and other parties at fair value through other comprehensive income | ||||
| Corporate loans | 76,022 | 58,064 | 17,958 | 30.9% |
| Discounted bills | 446,951 | 514,666 | (67,715) | (13.2%) |
| Carrying amount of loans and advances to customers and other parties at fair value through other comprehensive income | 522,973 | 572,730 | (49,757) | (8.7%) |
| Carrying amount of loans and advances to customers and other parties | 5,601,071 | 5,380,140 | 220,931 | 4.1% |
Investments in financial assets
As at 31 December 2024, the investments in financial assets of the Group were RMB3,538,851 million, an increase of RMB182,484 million, or 5.4% compared with 31 December 2023. The proportion of investments in financial assets to total assets was 29.3%, a decrease of 0.3 percentage point compared with 31 December 2023.
（a）Analysed by type
| RMB million | As at 31 December 2024 | As at 31 December 2023 | Increase/(Decrease) Amount % | |
|---|---|---|---|---|
| Debt securities | 2,302,824 | 2,116,909 | 185,915 | 8.8% |
| Investment management products | 31,577 | 35,614 | (4,037) | (11.3%) |
| Investment funds | 519,063 | 553,540 | (34,477) | (6.2%) |
| Trust investment plans | 186,883 | 205,542 | (18,659) | (9.1%) |
| Certificates of deposit and certificates of interbank deposit | 106,556 | 126,908 | (20,352) | (16.0%) |
| Equity investment | 339,948 | 278,588 | 61,360 | 22.0% |
| Wealth management products | 9,114 | 6,161 | 2,953 | 47.9% |
| Investments in creditor’s rights on assets | 1,900 | 1,900 | - | - |
| Others | 47,992 | 39,966 | 8,026 | 20.1% |
| Subtotal | 3,545,857 | 3,365,128 | 180,729 | 5.4% |
| Accrued interest | 20,722 | 19,861 | 861 | 4.3% |
| Less: allowance for impairment losses | (27,728) | (28,622) | 894 | 3.1% |
| Total | 3,538,851 | 3,356,367 | 182,484 | 5.4% |
（b）Analysed by measurement attribution
| RMB million | As at 31 December 2024 | As at 31 December 2023 | Increase/(Decrease) Amount % | |
|---|---|---|---|---|
| Financial assets at amortised cost | 1,108,159 | 1,076,039 | 32,120 | 3.0% |
| Financial assets at FVPL | 1,401,113 | 1,292,115 | 108,998 | 8.4% |
| Debt investments at FVOCI | 926,931 | 967,803 | (40,872) | (4.2%) |
| Equity investments at FVOCI | 102,648 | 20,410 | 82,238 | 402.9% |
| Total | 3,538,851 | 3,356,367 | 182,484 | 5.4% |
Deposits from customers
As at 31 December 2024, deposits from customers of the Group were RMB5,847,939 million, an increase of RMB387,946 million or 7.1% compared to 31 December 2023. The proportion of deposits from customers to total liabilities was 54.9%, an increase of 0.3 percentage point compared to 31 December 2023.
| RMB million | As at 31 December 2024 | As at 31 December 2023 | Increase/(Decrease) Amount % | |
|---|---|---|---|---|
| Corporate deposits | ||||
| Time deposits | 2,066,876 | 1,755,882 | 310,994 | 17.7% |
| Demand deposits | 1,965,191 | 2,149,823 | (184,632) | (8.6%) |
| Subtotal | 4,032,067 | 3,905,705 | 126,362 | 3.2% |
| Personal deposits | ||||
| Time deposits | 1,221,680 | 1,125,384 | 96,296 | 8.6% |
| Demand deposits | 439,965 | 340,432 | 99,533 | 29.2% |
| Subtotal | 1,661,645 | 1,465,816 | 195,829 | 13.4% |
| Outward remittance and remittance payables | 68,167 | 19,022 | 49,145 | 258.4% |
| Accrued interest | 86,060 | 69,450 | 16,610 | 23.9% |
| Total | 5,847,939 | 5,459,993 | 387,946 | 7.1% |
As at 31 December 2024, bank and other loans was RMB245,566 million, an increase of RMB9,796 million or 4.2% compared to 31 December 2023. Debt instruments issued was RMB1,497,138 million, an increase of RMB276,031 million or 22.6% compared to 31 December 2023, which is mainly due to CITIC Bank’s strengthening of active liability management and increase in certificates of interbank deposit.
（a）Bank and other loans
| RMB million | As at 31 December 2024 | As at 31 December 2023 | Increase/(Decrease) Amount % | |
|---|---|---|---|---|
| Comprehensive financial services | 15,277 | 10,344 | 4,933 | 47.7% |
| Advanced intelligent manufacturing | 7,462 | 6,018 | 1,444 | 24.0% |
| Advanced materials | 90,619 | 90,205 | 414 | 0.5% |
| New consumption | 7,740 | 6,608 | 1,132 | 17.1% |
| New-type urbanisation | 56,669 | 54,245 | 2,424 | 4.5% |
| Operation management | 125,572 | 125,712 | (140) | (0.1%) |
| Elimination | (58,484) | (58,000) | (484) | (0.8%) |
| Subtotal | 244,855 | 235,132 | 9,723 | 4.1% |
| Accrued interest | 711 | 638 | 73 | 11.4% |
| Total | 245,566 | 235,770 | 9,796 | 4.2% |
| RMB million | As at 31 December 2024 | As at 31 December 2023 | Increase/(Decrease) Amount % | |
|---|---|---|---|---|
| Comprehensive financial services | 1,403,167 | 1,133,946 | 269,221 | 23.7% |
| Advanced intelligent manufacturing | - | - | - | - |
| Advanced materials | 4,887 | 5,259 | (372) | (7.1%) |
| New consumption | 3,234 | 3,184 | 50 | 1.6% |
| New-type urbanisation | 1,000 | - | 1,000 | 100.0% |
| Operation management | 82,621 | 74,009 | 8,612 | 11.6% |
| Elimination | (4,807) | (2,818) | (1,989) | (70.6%) |
| Subtotal | 1,490,102 | 1,213,580 | 276,522 | 22.8% |
| Accrued interest | 7,036 | 7,527 | (491) | (6.5%) |
| Total | 1,497,138 | 1,221,107 | 276,031 | 22.6% |
Total ordinary shareholders’ funds
As at 31 December 2024, total ordinary shareholders’ funds of the Group were RMB757,487 million, an increase of RMB54,309 million compared to 31 December 2023.
Capital Liabilities
As at 31 December 2024, the capital commitments authorised and contracted for of the Group was RMB15,110 million. Details of the capital commitments are included in Note 49(f) of the financial statements.