CMBC Capital (HKG:1141) expects a net profit of between HK$45 million and HK$55 million for the year 2024, compared with a net loss of HK$572 million a year prior, a Tuesday filing by the financial services provider with the Hong Kong bourse said.

The anticipated turnaround to profit was mainly due to an increase in investment gains or losses and fair value change of its investments, a higher revenue from the investment banking fee-based business, and a lower provision for expected credit losses on its bond investments and loans and advances.