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For the year ended 31 December 2024
(Expressed in millions of Renminbi, unless otherwise stated)
For the year ended 31 December
Note20242023
Interest income 329,864 338,914
Interest expenses (181,491) (190,395)
Net interest income 5(a) 148,373 148,519
Fee and commission income 74,421 73,046
Fee and commission expenses (15,328) (11,456)
Net fee and commission income 5(b) 59,093 61,590
Sales of goods and services 5(c) 479,216 417,580
Other revenue 5(d) 66,188 53,143
545,404 470,723
Total revenue 752,870680,832
Cost of sales and services 6 (430,488) (368,452)
Other net income 7 12,618 8,657
Expected credit losses 8 (59,383) (65,615)
Impairment losses 9 (2,027) (4,595)
Other operating expenses 11 (136,292) (126,426)
Net valuation loss on investment properties (165) (177)
Share of profits of associates, net of tax 4,138 5,695
Share of profits of joint ventures, net of tax 2,492 3,708
Profit before net finance charges and taxation 143,763 133,627
Finance income 2,235 1,832
Finance costs (13,341) (12,172)
Net finance charges 10 (11,106) (10,340)
Profit before taxation 11 132,657 123,287
Income tax 12 (24,902) (18,013)
Profit for the year 107,755 105,274
Attributable to:
– Ordinary shareholders of the Company 58,202 57,594
– Non-controlling interests 49,55347,680
Profit for the year 107,755 105,274
Earnings per share for profit attributable to ordinary shareholders of the Company during the year:
Basic earnings per share (RMB) 16 2.00 1.98
Diluted earnings per share (RMB)161.97 1.98

The notes form part of these consolidated financial statements.