Dear investors, analysts, and media fans, good morning. I am the Board Director of Industrial Bank, Lü Jiajin . This spring, I shift in a new journey, and it's a great pleasure to gather with you here in Shanghai to reflect on 2024 and look ahead to 2025. Thank you for your long-term support and care for Industrial Bank. Today.
Coordination framework, product management, outsourcing governance, and HR management to remove bottlenecks hindering high-quality development. On the other hand, we will actively align with national financial reforms, including policies to boost the tech finance, implement advanced capital measurement methods, and channel long-term capital into markets. We will maximize policy dividends and continue pioneering pathways for financial reform. Dear investors and dear analysts, this year marks the last year of the 14th five-year plan. We felt there's a great responsibility on our shoulders. We will spare no effort to drive a high-quality development to a new level. I'd like to thank you for your continuous care and support to Industrial Bank. Thank you very much.
Thank you, Chairman, for your excellent speech. Now, I'd like to invite our President for the performance presentation. Welcome.
Dear investors, analysts, and friends from the press, a very good morning.
Just now, our Chairman has made some comments and presentations regarding 2024 achievement and also the strategy for this year, which is 2025, including some key priorities. Now, I am going to present to you the 2024 results. I will break it down into different dimensions. In 2024, our bank adheres to the goal of becoming a value-driven bank. What are the features of a value bank? Firstly, facing challenges head-on, we achieved the good results. There are five key characteristics of value bank: strong profitability, deep client collaboration, low risk of costs, balanced business structure, and distinctive operational strengths. From the perspective of profitability, last year, our revenue increased by 0.66% year-on-year and net profit grew by 0.12% year-on-year, achieving due growth. The revenue growth was mainly attributable to the expansion of interest-bearing assets.
As we all know, last year, it was a big year for the bond market. The growth in net profit was primarily due to reductions in risk costs and operating expenses, with impairment provisions and business management fees decreased by 1.62% and 0.65%, respectively. That is the first item: profitability. It remains robust. Second, in terms of client collaboration, the total number of clientele is quite outstanding. We have reached 110 million retail clients, and corporate clients totaled 1.54 million, representing an increase of 9.7% compared with the end of 2023. At the same time, costs. Last year, our deposit interest payment rate was CNY 1.98%, down 26 basis points. Corporate deposit interest payment rate 1.93%, down by 30 basis points. Retail deposit interest payment rate 2.11%, down 15 basis points. Low-cost interbank funds exceeded CNY 800 billion, a 20% increase.
Additionally, we have also actively expanded off-balance sheet business opportunities, particularly by leveraging our financial licenses and synergetic mechanisms to support the growth of asset management subsidiaries and boost wealth-related intermediary business income. Last year, our wealth management retained a very good market position. The asset management scale has maintained solid growth. For our public fund, AUM, it has reached CNY 347.5 billion, up 32.7%, while Industrial Trust AUM totaled CNY 404 billion, an increase of 118%. This growth is quite substantial. Second, we are also improving client service capabilities. To enhance this capability, we have undertaken extensive foundational work in recent years in two aspects. Firstly, our operational system, and second, our products. We have made major breakthroughs.
In terms of operational system improvement, at the headquarter level, we have transformed the customer service center into a digital operations center, establishing a client management model combining account management plus digital operations to improve precision marketing. At the branch level, we have standardized wealth management, middle-office operations, established direct private banking centers, payroll departments, and centralized retail loan processing centers to ensure professionals handle specialized tasks. Mechanically, we refined the client journey management of acquisition, activation, upgrading, and customer retention. We have strengthened integrated online plus offline and retail plus corporate operations and enhanced the comprehensive value of retail clients. Last year, 870,000 long-tail clients were upgraded to VIP status, and 14,800 VIP clients were elevated to private banking status. The downgrade and attrition rate for VIP clients decreased by 2.2% year-on-year.
For corporate banking, structurally, we systematically advanced the organizational systems for technology, finance, international business management, and the strategic client stratifications. We focused on the opening accounts, driving opening accounts, and also accounts management effectively and maintaining accounts properly to strengthen the foundational client base. We have also secured some initial results. By year-end, potential and above clients reached 358,000, accounting for 23.32% of the total, up by 1% year-on-year.
We should also learn from our advanced peers. We launched the first round of product reception, and for over 787 sellable products, we carried out the analysis and clarified the positioning and the optimizing structure for this project so that it can be more user-centric, user-friendly, and desirable. We also delisted some of the products with bad user experience. That is how we're working on enhancing the user experience. Third, the ability of investment and training capacity. This has become a huge strength of our bank. However, in the context of standardized business, transparent transaction, and fierce competition, and more and more uncertainties, we're also facing more and more challenges. In this regard, we will continue to work in the following areas.
For example, we should enhance our professionalism, enhance our decision-making, research, and execution system to enhance the research expectation with the three major mechanisms: the AUM Management Committee, the fixed income quarterly meeting, and the investment trading agile meeting. With these measures, we can see the bond opportunities. Last year, in areas like bond, FX, interest rates, and precious metal, we also secured good achievements with the total trading and investment exceeding CNY 20 billion. Second, coordinated innovation in operation business. Several years ago, we launched the major strategies of building another bank off the balance sheet. Last year, we worked towards this goal to build the wealth management and asset management working team to enhance coordination so that we can drive the investment banking, asset management, and wealth management to build more revenues.
By the end of last year, the Bank transformed the investment risk management system, improved the risk preference management system, and we added the new indicators like the national risks and IT risks, and enhanced the book interest rate risk tolerance metrics so that we can strike a balance between business development and risk guardians. We cover over 12 major risk categories so that the risk identification, evaluation, and disposal can be fully standardized. Third, enhanced our digital risk management capability. We built the automatic supervision plus manual intervention system with data systems and models. We have formed the off-site supervision, and we built the risk model agile iteration system and carried out the anti-fraud model, which covered over 95% of the total transaction. We also launched the online risk management system to enhance the efficiency.
Through the automatic judgment of the authorization rules and the auto capture of the review-ready data, we ensured that the credit-granting businesses are carried out regularly. Fifth, enhanced the management capability. Our total assets have surpassed CNY 10.5 trillion with over 70,000 employees, with over 200 operational institutions. We need to enhance our effective management to enhance the coordination and to enhance the high-quality development. It took Chairman Lü four years to fully deploy and sort out the management of our whole bank. Currently, we have seen the major outcomes. First, digital transformation. In recent years, we've been accelerating the digital transformation to empower technology in the business operation with more scenarios. We're acquiring more clients, and with the model, we're improving the business, and we're detecting the abnormal actions of employees through systems, and we're utilizing the data cabinet to make a bank as a whole.
We used to talk about the concept of one bank, and I think it's fully executed now. Reaching many of the clients with MAU rising by 4.7 million. In this regard, Chairman Lü highly valued the digital transformation, and he took personal charge and oversight of this work and has done a lot of fundamental work to help us make up for this gap. Me and the execution team also stress that we need to utilize these outcomes to convert them into the business operation. Second, refined management. We should enhance the major management for basic and ups and downs as well. The banking sector's evaluation has been at a relatively low level. We are very proud of our outcome, and this is also a very hard-won result. First, the market has a very high reputation for our bank.
Also, the growth in the retail AUM.
For such a kind of growth, our positions among the joint-stock banks have significantly improved. These are the three business segments. It is becoming more balanced so that our retail and corporate, we have achieved the synergetic development or integrated development in a more balanced approach and achieving a good market position and reputation. Thirdly, we have effectively responded to risk challenges. Indeed, during the past decade, China's economy was driven by real estate and infrastructure construction. For all banks, in terms of the funding management, I think these sectors account for a very significant portion of the loans from the banks. However, now the landscape has changed, as well as the financing models for real estate developers. The asset quality for the real estate sector has encountered some headwinds. The state has also promulgated policies to address these issues.
Real estate-based or local government financial vehicle or SME-related loans, they have. With the megatrend of the market to strengthen the confidence, the banking sector is a typical pro-cyclical industry. For any bank, the bigger the scale, then the deeper the relation with the macroeconomy. Because the banks, they are the bloodline of modern economy. The better the economy, the better the financial sector will be. Currently, China's economy is under transformation. There has been some positive.
The payroll payment clients and other clients so that we can better enhance our overlapping product coverage. At this stage, we're also enhancing the cross-departmental and cross-business lines linkage among corporate banking, retail banking, and the interbank business to enhance the client service and to enhance the overlapping of products to drive both the quality and quantity of clients. The second is on the management of interest margin. We should strike a balance between asset and liability. Before this, we focused on high yield and high risks. At this stage, especially last year as the LPR was cut for the third time, and the LPR was also repriced, even though the deposit interest expense ratio was also down, the reduction of asset and liability was now in line with the cost ratio. We're still struggling with the dilemma.
Should we still stick to the high yield and high risk, or should we shift to a new mode of low risk and stable growth? That is a question for us, and we also became quite determined. Rather than focusing on these high-risk revenues to gain these expenses and revenues, we should actually reduce the liability cost so that we can further work on these low-risk and stable assets. In this regard, we also reached a consensus, and we're working towards this goal. Third, on increasing revenue, we should strike a balance between on-balance sheet and off-balance sheet business, never giving to the risk management. This is what we must guard against with. These are the four major areas. In 2025 and in the coming years, we will continue with such kind of operational philosophy and to work on our future plans.
I think these are the four sets of relationships which are quite beneficial to enhance our efficiency of operation. That is the interest margin is going down. Remaining a stable interest margin and a very reasonable dividend return is still the major target of our market. For this year, we will mainly focus on these areas because our major three business lines, the corporate banking, we will still focus on the networking system and network working, and we will enhance our effective users of the corporate banking customers so that they can use more of our clients, of our products. Here's another data. Last year, our corporate banking closed-loop transaction number was CNY 2.3 billion, up by 16%, and that is a hard metric. From the compliance, our major strategy is like the payroll payment, agency payments, and wealth management, and other major business.
We can coordinate our platform economy to retain more resources. Here is another set of data. In 2024, among the settlement deposits of retail banking, 40% were brought by the agency and collection clients, and this will be our key focus this year. The third area is financial market. The interest rates are also going down. For this year's plan, we will keep our pace very stable. Going forward in 2025, we have an estimation that the deposit interest ratio will have 24 basis points to be further declined. On the asset end, it is also declined quite significantly. Centrally on the asset structure, the NIM will be further declined by 10 basis points. At the end of February, the data showed us we have around 8 basis points of decline.
We also hope that the 10 basis point decline of NIM will also outperform the market. The second question is about the asset management, and we will invite Mr. Lai Furong to take our question. Thank you. This year, the risk management of the whole banking sector is still facing quite a complex landscape. We are facing weak demand, and the resident corporate solvency issue is still taking some time to be fully recovered. Especially the regional fiscal policies are still facing some obstacles. However, for the adjustment of the macroeconomic structure, it also ushers in new growth points for our banking sector and also offers the structure of the newly added NPAs. The local debt and credit card risks will further be resolved. The new NPL in the real estate sector in general will further be reduced.
However, there might be some case-by-case scenarios that can also occur in the coming years. In general, it will be reduced. For retail credits, we also realized from the earning sessions from many of the banks that this year we will face some upward trend. This is also a common issue for us. For us, from my perspective, I believe that the major metrics of the asset quality, the provision coverage, and others will still remain within quite a progress range. The total risks are still controllable. We are very confident that we can still outperform the market.
We have confidence to continuously outperform the market. I'd like to add one more point. Last night, after our annual report was available, some friends have paid attention to the restructured loans. It seems to be growing very fast. I think that might be an issue of different calibers. The financial asset risk classification method of the State Administration of Commercial Banks has formulated new guidelines for the statistical calibers. If using the same caliber, then in 2024, compared with 2023, 2024, we had CNY 4 billion. In 2023, it's CNY 3 billion. It's only CNY 1 billion growth. That's why I want to explain. It's mostly due to different statistical calibers. I remember that last year, upon the results announcement, some friends have asked similar questions. That's why I'd like to clarify that. I think the management is very responsive to any market inquiries.
Now, next question, please.
I am from Shanghai Securities News. My name is Maoming. I have a question regarding fintech or technology finance. It's becoming a new name card for Industrial Bank. Judging by the statistics announced last year, the technology finance loans have surpassed CNY 960 billion, and the NPL ratio was only 0.77%. Can you share with us the high growth and the low NPL? Additionally, we'd like to know more about Industrial Bank's credit loan placement in the past three years. Industrial Bank's credit loan growth has shifted from a quantity-based growth to a qualitative improvement. The ratio of green finance loans and also inclusive finance loans is also increasing. In particular, the retail loan has also turned from negative numbers to positive growth. What will be the management consideration for the 2025 credit loan placement?
What about the key initiative, the pace of credit loan placement, and also the focus areas? Also, what's the credit loan placement up to date? Are they aligned with the expectations?
Thank you, Maoming, for your question. Technology finance is the first among the five key financial initiatives. I'd like to ask our Chairman to respond.
Thank you, Madam Maoming, for the question. At present, the national economy and also the technology sector, these areas are embracing positive changes. In particular, the new quality development has driven technological innovation and industrial innovation, integrating these two to drive the national economy, laying a solid foundation to improve the national power. The financial industry is the bloodline of a modern economy. The emerging sectors of the economy also provided new room for growth for the financial sector.
Over the past few years, technology continued to iterate with a broad space for growth. While for Industrial Bank, there are several key considerations related to technology finance. Firstly, we started very early. Back in 2020 or 2021, we have realized that real estate, infrastructure, and the financial sector, this triangular cycle will cease to be. What would be the way out? We were thinking about this question. We have to. We are bound to shift towards the advanced manufacturing, the industry, and also the technology sector. We have formed a new triangular circulation between technology and also the financial sector. We have made very early strategic decisions back in 2021, even before the convening of the Central Financial Work Conference. The conference took place in 2023.
In 2021, we have put forward five new tracks, including fintech, inclusive finance, energy finance, auto finance, and also industrial park finance. We have also established a special work committee to implement these initiatives. In the meantime, in the above-mentioned areas, we have reached a good consensus with very expedient actions, with good outcomes. Second, in terms of specific measures, on one hand, we have strengthened the organizational leadership. For me, I serve as the team leader. We also have very strong professional capabilities from the angle of wealth management. Technological innovation would also create an overflowing effect. When these companies become listed after IPO, the business owners and also the talents engaged in innovation, their wealth management presents a huge demand and opportunity. Another angle is investment banking in terms of bond underwriting, bond investment, and also MA financing, equity investment.
In the latter two areas, in the previous domains, we had a very large scale. In the latter two areas, we do have a competitive edge. In these respects, we focused on the key enterprises in the industrial chain, supporting them with their consolidation efforts. As to the enterprises that they aim to incubate, we would also invest in these entities so that we will be able to build a service ecosystem for technology finance. Currently, the regulatory bodies are actively promoting the setup of AIC, and we do meet the criteria. We are eligible. Additionally, we will give full play to our incumbent advantages of our asset management team. We do have a big asset management team and are quite influential in the market. In terms of private equity, in the past, successful projects, we would also make use of these experiences.
As soon as AIC will be successfully applied, then we will continue to form new development momentum in technology finance. All in all, technology is evolving, and that would drive the financial sector to grow rapidly. For the financial sector, it is imperative for us to strengthen the research, the analysis, and also the reserve of talents so as to effectively mitigate risk. As a result, we will be able to maintain our leading.
I have two questions. Firstly, the Chairman, in his speech, he has mentioned technology empowerment. We all know that the Chairman attached great importance to the digital transformation of Industrial Bank. Also for the next stage, the Chairman mentioned it's going to be digital services and intelligent services or smart services.
From the construction period to the so-called hard discipline, can the Chairman help us to walk us through what the bank has done and what will be the results and what will be the next step?
Previously, President Chen has mentioned about emphasizing the major investment banking, wealth management, and asset management. That was a major strategy 10 years ago. For this year, we're still focusing on the shifting from unbalanced shift business to off-balanced shift business.
Is there any detailed plans? Thank you. First is about the digitalization, digital transformation. Chairman, will you please?
Thank you, Mr. Zheng Xingming. You are also a friend that has paid special attention and given us great support throughout these years, which helped us so much throughout our whole journey. For Industrial Bank, top priority throughout these years.
Because that was actually a weakness for us before. For us, we've done a lot of work. The first is to make sure our consciousness, and second, to make clear of our goal. The goal is to build on our capability of conducting everything and to build a vast, echo-empowered bank. That is actually based on the internet as well as the big data era. That is what our goal in this era. Going forward, as the artificial intelligence is fully applied and widely used, we will shift from the branch-based Industrial Bank to digital Industrial Bank and also shift towards the smart service. To be specific, here is what we are going to do. I also mentioned how we've done this. We started from the restructuring of our structure and by attracting more talents and pouring more investment in technology.
Especially in the whole process of digital construction of our bank, we emphasized that corporate level and standardized strategy is our top priority and is the key. Corporate level means that anything that is new, any new system must, from the very beginning and in the very early stage of planning and in our business structure and technology structure, we must find this position very clearly. For all those projects that are in plan and those that are within our framework, we can agree to carry forward with it. In promoting the building of this IT system, we also thought about how these were based on the digital framework, how we can improve the working flow.
Some of them may not base on the middle back office and front office framework, but instead, it is focused on the integrated as well as the head office to branch office as well as the sub-branch office, the so-called shared strategy. Standardization is also the most prominent issue for the financial sector. It is just because that in different times and era, and the systems built by different departments lack a kind of standardization, which means that their data cannot be used efficiently and led to the data silos. From the data standardization and from the flow standardization and the demand standardization and the model standardization, as well as the standardization for development, we're building such a system based on these areas. Looking back, it was just because of the standardization, we built a very solid foundation. We founded our CIB digital dictionary.
This way, for every system of our bank, we have a standardized version and we have a standard for application. In this way, we have a very standard way. Our users, and we can pull all of our models. In this way, the cost of development is reduced and the efficiencies are greatly enhanced. These are all the work that we are doing at this moment and actually showed great signs of improvement and outcome. The CIB digital finance can actually arrange for over 300 projects at the same time. The 800 self-built systems of our whole bank have been reduced to 250, and we will do this work even further. That way, among different systems, it will be easier for them to cooperate, and there will be less data center and database, and we will pull all of their functions together.
In this way, we will avoid a change of different sections and the difficulty in search and query, as well as high cost for external IT system building. The expense will be greatly reduced, but it will drive higher efficiency, and that is the key for our work in the future. For business innovation, for the promotion, for the marketing of our clients, as well as for the risk management and guardians, as well as for our internal auditing, for these areas, we will all apply our efforts in these areas. Just with the efforts with our technological department and our operational department, we scored such a great achievement. In facing the new round of technological revolution, represented especially by AI, big data, and humanoid robots, when these applications are fully applied, our financial service will greatly be changed in the future.
It may serve as a function to be fully integrated into the industries and to be integrated into every section of the life for our households. For these areas, we need to make preparation in advance. Last year, before this became a topic, we have already asked our technological department to do a research for half of the year to plan the AI cloud native and digital currency and others. We will further research on the applications. In this way, we can further develop and make greater preparations for developing in these areas. In general, I would like to stress that there is no boundary for technological development. In these areas, we will remain committed and persistent to enhance the nation.
The core of investment banking, the core function still lies in asset construction, and the core function of asset management lies in product origination, and the function of wealth management lies in the sales of products. They have their own focuses. In these areas, they are in three different business lines in our bank. The coordination is even more important. Last year, we launched the working force for wealth management and asset management with me serving as the team leader and other vice presidents as the coordinated team leaders. We also co-locate the asset management department into the asset department and launched the asset management promotion division. In many of the branches, we also launched the asset management department or division to enhance the team building through improving the structure and organization and enhancing the evaluation.
We hope we can open up the whole chain so that from the client demand, the product origination, the asset management operations, the product sales and management can be fully in the closed-loop management. In addition to the coordination, we will work on these areas. Investment banking should enhance the asset management ability in bond, merchants and acquisition, syndicated loans, and stock repurchase, which should further construct the high-quality assets. Asset management should win the customers through its high-quality products and to build our competitive products to enhance our competitiveness in equity, foreign exchange, commodities, and overseas markets, as well as see the opportunities of FICC and the ETF business so that we can change it into our strengths.
Sadly, wealth management, we need to improve client alignment between their demand and the products.
We need to strengthen the retail advisory services addressing current gaps, providing customized corporate wealth solutions, and continuously improve the premium products for institutional clients, enhancing digital platforms to build our online service platform. This integrated approach creates a virtual cycle connecting client needs, product innovation, and asset operation and the distribution channels. We remain committed to our vision 10 years ago of building a second Industrial Bank off-balance sheet. That's roughly our idea and the things that we have already done.
Next question, please.
Please start with a self-introduction.
Thank you very much. I am from CICC. I'm a banking sector analyst, Huang Zhaohui. Two questions. First question is regarding the AI empowerment. This is a very hot topic. The industrial bankers are building the IB Smart Bank. What will be the bank's approach to AI empowerment in the future? Second, about the retail risk.
Currently, there has been a higher non-performing asset for many banks. For Industrial Bank, our credit card indicators are still improving, and also MOB is also improving. What is the outlook in 2025?
Okay. Thank you for the question. Regarding the AI question, I would like to ask Mr. Tang, our Chief Information Officer, to respond to this question. It is the first time for him to sit at this occasion.
Okay. Thank you, Zhaohui. This is a very good question. We know that artificial intelligence has become a very important consideration in financial innovation as a core engine to drive a second growth trajectory. Just now, the Chairman has mentioned that our bank is embracing artificial intelligence and driving IB to shift from a digital IB to a smart IB. After 2021, after the Chairman assumed office, he has led us to complete the digital transformation.
By last year, like being said earlier, we have shifted from the construction period to the harvesting period. Starting from early last year, the Chairman has led us to make plans for the AI-driven strategy, the vision of AI for everyone. Starting from the end of last year, we had started in-depth communication and testing with DeepSeek. Initially, we started with the VR version. Early January, we understand that they are going to launch a new version. During the Spring Festival, we have deployed the up-to-date version of DeepSeek. Currently, we are carrying out the applications for DeepSeek. The second half for digital transformation would be smart services for IB. We are very active in this aspect. In summary, we have done several things. Firstly, I think we need to establish a cognitive organization from digitization to intelligence.
We need to shift the paradigm from data-driven to recognition-driven or perception-driven. We should not only be able to view the data. More importantly, we need to tap into the potential of the data to use them to drive our insight and perception of a customer and market. We need to build different perception models regarding the perception of our customers, of the market, and also P, the perception for our products, and also the perception for the operation. In the security trading platforms in Chicago, we have over CNY 100 billion transaction volume on a monthly basis. These eight areas are not adequate. This year, we will continuously drive our departments and subsidiaries and branches to embrace AI. We are actively deploying the AI Plus action plans to include AI application outcomes into 2025 KPI assessment. Currently, it has already played a very positive role.
Just like I've been said earlier, in terms of the assessment in technology finance and also the satellite remote sensing for green finance, we've been upgrading the applications to come up with featured solutions so as to better improve the financial service capabilities to the real economy. Thirdly, we are building AI systems that are releasing the risk for retail loans. For our bank, we are also under some pressure. Based on the market dynamics, we have proactively made some adjustments. We have lowered the risk allowance, the risk of Uncertain. We would prefer to surrender part of the profit instead of having the risk continuous to surge. We have also optimized the retail loan risk management mechanism to make sure that the risk could be effectively controlled and reduce the new NPL.
Additionally, we have also equipped the banks with adequate financial resources to absorb the for retail finance. That to the paradigms of business growth. We have built five subsystems, including the cross-selling systems and also continued companionship for the customers. We have provided the interest-coordinated service systems with a special focus on the branch management systems. We have made a major institutional arrangement reform so as to drive retail business, to stabilize and also to achieve a sustainable growth for retail business. We attach great importance to retail business. For me and also for my colleague, we are taking the lead to drive it. Secondly, we have also elevated retail business to be overseen by the management, by the leaders. For many branches, or shall I say, most branches, the presidents of these branches will oversee the retail business.
That has taken care of many restrictive bottlenecks. For instance, in terms of payroll service, also in the merchant acquisition, bill collection, private banking, and personal pension, I think the company has made a major improvement.
Last year, the payroll payment was also a focus and priority for our retail banking business. Last year, the total client number grew by 2.56 million, registering a historical high. Through the coordination, our private banking customer also reached 9,100. This actually drove greater efficiency of expanding our customer bases than working alone just in the retail banking sector.
Of course, for the retail banking, we're also very clear that you'll see a huge gap before us, and we will still need to go through a hard and long journey, especially coupled with the economic cycle, as well as the compression of the intermediary business income, as well as the risks of credit. These are actually opposing challenges to our retail banking. However, we believe that through such a systemic and mechanism building, we're very confident that we can make up for these bottlenecks and weaknesses in retail banking. Through three years' time, we will gain greater achievements. Thank you.
Thank you, President Chen. Now the last question, as time is quite limited. The last question, please.
Thank you. I'm from CITIC Construction Investment Securities , and thank you for giving me this opportunity for the last question. My last question is about the dividend payout ratio, which has surpassed 30% last year. In the future, will we still sustain such a trend of stability and upward trend? Do we also have the plans for interim dividends?
I will invite our Chairman to take our question.
Thank you for your question, Ma Kunpeng . Thank you for your long-term support for our bank. This year, our dividend payout ratio surpassed 30%. This demonstrated that our bank is committed to building a value-driven bank and to provide service for our investors. Our past achievements also brought very rich dividends for our investors. Since we were listed, we did a calculation that our cumulative dividends reached CNY 193.67 billion. That is 2.32 times that of the financing of common equity. Grow together with Industrial Bank and share the outcomes.
Here is the story I would like to share with you. When summarizing and sorting the dividends payout since we were listed, we found that there was a company. Since our foundation, the company paid the first CNY 303 million of start capital. Throughout these years, this company actually increased its investment in our bank without even trimming them. Now the total volume reached CNY 3.56 trillion. From CNY 3 million to now at a number of CNY 3.56 trillion. That is a huge growth from the 1980s to now, the year of 2025. We also realized that the dividend payout for them was over CNY 2.1 billion. According to the market cap several days ago, that is CNY 3.96 billion. We sincerely hope that more investors can trust Industrial Bank and will grow together with our bank together.
That is my answer to my question. Thank you.
Thank you, Chairman Lu, and thank you all for all the investors, analysts, and media friends. Two hours have passed, and I believe that you have a very thorough discussion on site. For the online channels with our Panorama channel as well as our mobile banking app, there are many of the online friends joining us for our presentation. Dear investors, analysts, and media friends, your expectation and support for us is a great motivation for our bank. Your care and suggestions will make us further enhance and do more of our strength. We hope that in the future, dear investors and analysts, you can pay greater attention to our bank and grow together with our bank. Thank you. This brings us to the.