BEIJING/SHANGHAI, March 26 (Reuters) - Bank of China beat forecasts on Wednesday with a 2.6% rise in 2024 net profit, according to a filing.
Profit climbed to 237.84 billion yuan ($32.74 billion) from 231.90 billion yuan in 2023, the bank said in the filing.
That was above a median estimate from 13 analysts of 221.47 billion yuan, according to data from LSEG.
The bank's net interest margin - a key gauge of profitability - was 1.40% at the end of last year versus 1.41% at the end of September.
The NIM at China's commercial banks fell to a record low in the fourth quarter of last year after the government in September unveiled a stimulus package including cuts to policy rates and mortgage rates.
"In 2025, the external environment will face heightened uncertainty with multiple risks and challenges," BoC said in the filing. "Global economic growth momentum is expected to remain weak."
The bank's non-performing loan ratio was 1.25% at the end of last year versus 1.26% at the end of September, according to the filing.
($1 = 7.2638 Chinese yuan renminbi)
Reporting by Ziyi Tang and Engen Tham. Editing by Jan Harvey and Mark Potter
Source: Reuters