In 2024, the comprehensive financial services segment established a coordinated and differentiated business system, advancing the “Financial Core” initiative and creating a CITIC model of “five major tasks” in finance. The segment achieved revenue of RMB279.469 billion and profit attributable to ordinary shareholders of RMB52.649 billion, both up by 4.3% year-on-year. CITIC Bank increased its high-quality lending, outperforming the market in its management of the narrowing net interest margin, and capitalised on bond market opportunities to drive rapid growth in investment income. The bank’s revenue reached RMB213.223 billion, with profit attributable to shareholders of RMB68.576 billion, up by 3.7% and 2.3% year-on-year, respectively. CITIC Securities maintained a leading position in key areas such as brokerage, investment banking, asset management and proprietary trading. The proprietary trading business continued to optimise its asset allocation, while asset management saw significant growth in managed assets and custodial assets of new brokerage accounts. CITIC Securities reported RMB63.789 billion1 in revenue and profit attributable to the parent company of RMB21.704 billion, up 6.2% and 10.1% year-on-year, respectively. CITIC Trust achieved 27% growth in trust assets. Coupled with increased bond income and profit contribution by strategic investments, CITIC Trust reported revenue of RMB5.379 billion and profit attributable to the parent company of RMB2.653 billion, an increase of 8.1% and 0.9% year-on-year, respectively. CITIC-Prudential Life2 strengthened its channel development and focused on value-driven business transformation, achieving new business value of RMB2.82 billion and a new business value rate of 42%, marking year-on-year increases of 16% and a rise of 10 percentage points, respectively.
