AMTD Digital Inc. and World Media and Entertainment Universal Inc. jointly announced that Bank of Qingdao Co., Ltd., a strategic investment of AMTD, reported solid 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 and a 13.48% rise in total assets compared to 2023. Additionally, its non-performing loan ratio declined for the second consecutive year to 1.14%, indicating strengthened market position.
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 positive performance from a key strategic investment contributes to AMTD Digital's overall financial health and investment portfolio.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.