AMTD Digital Inc. and World Media and Entertainment Universal Inc. (WME) jointly announced that Bank of Qingdao Co., Ltd., a strategic investment of AMTD, reported strong preliminary annual results for 2024. The bank demonstrated significant improvements in operational efficiency and profitability.
Bank of Qingdao reported a 20.16% increase in net profit attributable to shareholders for 2024 compared to 2023, alongside a 13.48% rise in total assets. The bank also achieved a two-year consecutive decline in its non-performing loan ratio, reaching 1.14%.
As of the announcement date, AMTD, through WME, holds 367,675,000 H-shares of Bank of Qingdao, representing approximately 16.04% of the total H-shares issued and 6.32% of the total ordinary share capital. This strong performance by a key strategic investment reflects positively on AMTD's diversified portfolio.
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