Summary by Futu AI
The Industrial and Commercial Bank of China (CBI) published its first quarter report for 2024 on April 29, 2024. The report showed that the bank's operating income in the first quarter of 2024 was RMB2198.43 billion, down 3.41% from the same period last year; net profit attributable to shareholders of the parent company was RMB876.53 billion, down 2.78% year-on-year. Basic earnings per share were $0.24, down 4.00% from the same period last year. During the reporting period, the total assets of the Industrial and Commercial Bank reached RMB 47.6 trillion, an increase of 6.49% year-on-year. The bank's bad loan ratio stood at 1.36%, which was flat at the end of the previous year, with an overdraft rate of 216.31%, up 2.34 percentage points. The financial statements for the quarter are unaudited. In addition, the report also mentions that the holding shareholders of Central Securities Investments Limited accumulated approximately 0.08% of the Company's A shares during the period from October 2023 to April 2024 and held approximately 34.79% of the Bank's A shares.