For the year ended 31 December 2024
(Expressed in millions of Renminbi, unless otherwise stated)
(Expressed in millions of Renminbi, unless otherwise stated)
| For the year ended 31 December | |||
|---|---|---|---|
| Note | 2024 | 2023 | |
| 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 | 752,870 | 680,832 | |
| 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 | 49,553 | 47,680 | |
| 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) | 16 | 1.97 | 1.98 |
The notes form part of these consolidated financial statements.