{"id":2040,"date":"2025-05-04T09:07:48","date_gmt":"2025-05-04T01:07:48","guid":{"rendered":"http:\/\/skystone.management\/2025\/05\/04\/webank-2024-revenues-down-but-profits-up-and-tencent-reduces-stake\/"},"modified":"2025-05-06T19:46:41","modified_gmt":"2025-05-06T11:46:41","slug":"webank-2024-revenues-down-but-profits-up-and-tencent-reduces-stake","status":"publish","type":"post","link":"https:\/\/skystone.management\/en\/2025\/05\/04\/webank-2024-revenues-down-but-profits-up-and-tencent-reduces-stake\/","title":{"rendered":"WeBank 2024: Revenues down, but profits up and Tencent reduces stake"},"content":{"rendered":"<div class=\"vce-row-container\" data-vce-boxed-width=\"true\"><div class=\"vce-row vce-row--col-gap-30 vce-row-equal-height vce-row-content--top\" id=\"el-036432ef\" data-vce-do-apply=\"all el-036432ef\"><div class=\"vce-row-content\" data-vce-element-content=\"true\"><div class=\"vce-col vce-col--md-auto vce-col--xs-1 vce-col--xs-last vce-col--xs-first vce-col--sm-last vce-col--sm-first vce-col--md-last vce-col--lg-last vce-col--xl-last vce-col--md-first vce-col--lg-first vce-col--xl-first\" id=\"el-68f1b8ca\"><div class=\"vce-col-inner\" data-vce-do-apply=\"border margin background  el-68f1b8ca\"><div class=\"vce-col-content\" data-vce-element-content=\"true\" data-vce-do-apply=\"padding el-68f1b8ca\"><div class=\"vce-single-image-container vce-single-image--align-left\"><div class=\"vce vce-single-image-wrapper\" id=\"el-4760cec7\" data-vce-do-apply=\"all el-4760cec7\"><figure><div class=\"vce-single-image-figure-inner\" style=\"width: 1080px;\"><div class=\"vce-single-image-inner vce-single-image--absolute\" style=\"width: 100%; padding-bottom: 61.2963%;\"><img loading=\"lazy\" decoding=\"async\" class=\"vce-single-image\"  width=\"1080\" height=\"662\" srcset=\"https:\/\/skystone.management\/wp-content\/uploads\/2025\/05\/Webank-Banner-5-4-2024-320x196.jpg 320w, https:\/\/skystone.management\/wp-content\/uploads\/2025\/05\/Webank-Banner-5-4-2024-480x294.jpg 480w, https:\/\/skystone.management\/wp-content\/uploads\/2025\/05\/Webank-Banner-5-4-2024-800x490.jpg 800w, https:\/\/skystone.management\/wp-content\/uploads\/2025\/05\/Webank-Banner-5-4-2024-1080x662.jpg 1080w\" src=\"https:\/\/skystone.management\/wp-content\/uploads\/2025\/05\/Webank-Banner-5-4-2024-1080x662.jpg\" data-img-src=\"https:\/\/skystone.management\/wp-content\/uploads\/2025\/05\/Webank-Banner-5-4-2024.jpg\" data-attachment-id=\"2023\"  alt=\"Tencent Webank banner\" title=\"Webank Banner 5-4-2024\" \/><\/div><\/div><figcaption hidden=\"\"><\/figcaption><\/figure><\/div><\/div><div class=\"vce-text-block\"><div class=\"vce-text-block-wrapper vce\" id=\"el-cd114919\" data-vce-do-apply=\"all el-cd114919\"><p>WeBank, one of China's leading digital banks, has released its annual financial report for 2024. The numbers show a decline in revenues but an increase in profits. Additionally, Tencent, the tech giant that helped found WeBank, has reduced its stake.  <\/p><p><strong>Revenues Down, But Profits Up<\/strong><\/p><ul><li><strong>Total revenue<\/strong>: 38.13 billion yuan, down 3.1 percent from last year.<\/li><li><strong>Net interest income<\/strong>: 30.20 billion yuan, up slightly by 0.12 percent.<\/li><li><strong>Net commissions<\/strong>: 6.59 billion yuan, down 17.96 percent.<\/li><li><strong>Net Profit<\/strong>: 10.9 billion yuan, up 0.8 percent.<\/li><\/ul><p><strong>Financial Situation<\/strong><\/p><ul><li><strong>Impaired loans (NPLs)<\/strong>: 1.44 percent, with a coverage ratio of 4.36 percent.<\/li><li><strong>CET1 ratio<\/strong>: 11.93%, indicates a sound financial position.<\/li><\/ul><p><strong>Growth in Retail and Corporate Segments<\/strong><\/p><ul><li><strong>Active Retail Customers<\/strong>: 424 million, up 25 million.<\/li><li><strong>Net loans<\/strong>: 436 billion yuan, up 5 percent.<\/li><li><strong>Loans to SME<\/strong>: 18% growth.<\/li><li><strong>Total assets<\/strong>: 651.78 billion yuan, up 21.7 percent.<\/li><li><strong>Customer deposits<\/strong>: 508.37 billion yuan, up 35.37 percent.<\/li><\/ul><p><strong>Tencent Reduces Stake<\/strong><\/p><p>Tencent has reduced its stake in WeBank from 32.73% to 30%, selling 84.54 million shares to four shareholders. Despite the decline in revenues, WeBank has shown strong cost management and operational efficiency, leading to increased profits. The reduction in Tencent's stake may signal a restructuring, but WeBank remains one of the most innovative and solid digital banks in the industry.  <\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>WeBank, one of China&#8217;s leading digital banks, has released its annual financial report for 2024. The numbers show a decline in revenues but an increase in profits. Additionally, Tencent, the tech giant that helped found WeBank, has reduced its stake. Revenues Down, But Profits UpTotal revenue: 38.13 billion yuan, down [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":2025,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[36,37,38,35],"tags":[74,73,72],"class_list":["post-2040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-finance","category-it-en","category-technology","tag-flash24-en","tag-tencent-en","tag-webank-en"],"aioseo_notices":[],"featured_image_src":"https:\/\/skystone.management\/wp-content\/uploads\/2025\/05\/Webank-Banner-5-4-2024.jpg","author_info":{"display_name":"Sky Lei","author_link":"https:\/\/skystone.management\/en\/author\/skylei\/"},"_links":{"self":[{"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/posts\/2040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/comments?post=2040"}],"version-history":[{"count":8,"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/posts\/2040\/revisions"}],"predecessor-version":[{"id":2063,"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/posts\/2040\/revisions\/2063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/media\/2025"}],"wp:attachment":[{"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/media?parent=2040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/categories?post=2040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skystone.management\/en\/wp-json\/wp\/v2\/tags?post=2040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}