经中国人民银行和国家金融监督管理总局江苏监管局批准，南京银行股份有 限公司（以下简称"本公司"）于近日在全国银行间债券市场成功发行"南京银 行股份有限公司 2024 年二级资本债券（第一期）"（以下简称"第一期债券"） "南京银行股份有限公司 2024 年二级资本债券（第二期）"（以下简称"第二 期债券"）。 第一期债券于 2024 年 8 月 23 日发行完毕，发行总额为人民币 50 亿元，为 10 年期固定利率债券，在第 5 年末附有条件的发行人赎回权，票面利率 2.25%。 第二期债券于 2024 年 8 月 23 日发行完毕，发行总额为人民币 100 亿元，为 10 年期固定利率债券，在第 5 年末附有条件的发行人赎回权，票面利率 2.25%。 上述两期债券募集资金将依据适用法律和监管部门的批准用于充实本公司 二级资本，提高资本充足率，以增强本公司的营运实力，提高抗风险能力，支持 业务持续稳健发展。 特此公告。 | 证券简称: 南京银行 | 证券代码: 601009 | 编号:2024-037 | | --- | --- | --- | | 优先股简称：南银优 1 | | 优先股代码：360019 | ...

| 证券代码：601009 | 证券简称：南京银行 | 公告编号：2024-036 | | --- | --- | --- | | 优先股简称：南银优 1 | | 优先股代码：360019 | | 南银优 2 | | 360024 | | 可转债简称：南银转债 | | 可转债代码：113050 | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 706 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 7,171,353,274 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 69.3299 | (一) 股东大会召开的时间：2024 年 8 月 16 日 (二) 股东大会召开的地点：江苏省南京市建邺区江山大街 88 号公司河西总部 大楼四楼 401 会议室 南京 ...

关于南京银行股份有限公司 2024 年第二次临时股东大会的 法律意见书 江苏金禾律师事务所 中国 南京 中山南路 8 号苏豪大厦 10 楼 邮编 210005 Add: 10F, Suhao Building, 8 South Zhongshan Road, Nanjing, China 电话（Tel）：025-84723732 传真（Fax）：025-84730252 1 江苏金禾律师事务所 法律意见书 江苏金禾律师事务所 关于南京银行股份有限公司 2024年第二次临时股东大会的法律意见书 致:南京银行股份有限公司 江苏金禾律师事务所(以下简称"本所")接受南京银行股份有限公司(以下 简称"公司")的委托，指派夏维剑律师、喻湘宁律师出席了公司召开的 2024 年第二次临时股东大会（以下简称"本次股东大会"），对公司本次股东大会的 召集和召开程序、出席会议人员的资格、表决程序的合法性、有效性，依据《中 华人民共和国公司法》、《中华人民共和国证券法》等有关法律、法规和规范性 文件以及《南京银行股份有限公司章程》(以下简称"《公司章程》")进行了认 真的审查。 为出具本法律意见书，本所律师对本次股东大会所涉及的有 ...

Investment Rating - The investment rating for the company is "Accumulate" (首次覆盖) [1] Core Views - The company's performance growth exceeded expectations, with non-interest income contributing significantly [1][3] - The bank's corporate business is expanding steadily, supported by a resilient regional economy [3][4] - Cost-saving effects are becoming evident as the bank manages its liabilities effectively [3][4] - The bank is enhancing its asset quality through increased efforts in non-performing asset disposal [3][4] Summary by Relevant Sections Performance Overview - In H1 2024, the bank's revenue growth reached 7.9%, an increase of 5% from Q1 2024, while net profit growth was 8.5%, up approximately 3% from Q1 2024 [3] - Non-interest income grew significantly by 25.5% year-on-year, driven by improved contributions from bond investment fair value changes and a 13.3% increase in fee income [3] Business Expansion - The bank primarily operates in Jiangsu province, with loan balances in Nanjing and other Jiangsu areas accounting for 25.73% and 59.54%, respectively [3] - Total assets, loans, and deposits grew by 11.7%, 13.5%, and 4.2% year-on-year, respectively, with corporate loans increasing by 12.7% since the beginning of the year [3][4] Cost Management - The average yield on assets decreased by 16 basis points due to asset repricing and declining market interest rates, while deposit costs fell by 8 basis points [3] - The overall cost of liabilities decreased by 7 basis points, indicating potential for further reductions in the future [3][4] Asset Quality - The bank's non-performing loan (NPL) ratio was 0.83%, down 0.07 percentage points from the end of the previous year, with a coverage ratio of 345.02% [3][4] - The bank's proactive approach to non-performing asset disposal has helped maintain stable asset quality [3][4] Shareholder Developments - BNP Paribas increased its stake in the bank, holding 17.68% of shares, which may enhance the bank's operational management and risk control capabilities [4] Financial Projections - The bank's projected net profit growth rates for 2024 to 2026 are 8.1%, 7.6%, and 6.9%, respectively, with corresponding EPS estimates of 1.95, 2.09, and 2.24 yuan [4][5]

Investment Rating - The investment rating for Nanjing Bank is upgraded to "Buy" with a target price of 11.85 CNY, reflecting a 0.79 times price-to-book ratio for 2024 [2][6]. Core Views - Nanjing Bank's revenue and profit growth in the 2024 mid-year report exceeded expectations, with asset quality meeting forecasts. The new management team has made significant progress in driving reforms and improving efficiency [2][3]. - The bank's net profit growth is projected at 14.0%, 10.2%, and 10.7% for 2024-2026, with corresponding earnings per share (EPS) of 1.93 CNY, 2.14 CNY, and 2.38 CNY [3][4]. - The bank's current dividend yield for 2024 is 5.95%, indicating a combination of growth potential and stable dividends [3]. Financial Summary - Revenue for 2024 is estimated at 49,842 million CNY, reflecting a 10.4% increase from 2023 [4]. - Net profit attributable to shareholders is projected to be 21,096 million CNY in 2024, representing a 14.0% growth compared to 2023 [4]. - The bank's total assets reached 2,288,276 million CNY, with total loans amounting to 1,099,073 million CNY and total deposits at 1,396,366 million CNY [8][12]. Operational Highlights - In Q2 2024, Nanjing Bank's loan growth was 13.5% year-on-year, while financial investments increased by 13.1% [3]. - The bank's non-interest income saw a significant increase of 45.7% year-on-year, contributing 43% to total revenue [3]. - The non-performing loan (NPL) ratio remained stable at 0.83%, with a slight increase in the attention rate to 1.07% [3][4].

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 [table_Authors] 刘源(分析师) 021-38677818 liuyuan023804@gtjas.com [当前价格： Table_CurPrice] 10.28 登记编号 S0880521060001 52 周内股价区间（元） 7.11-10.43 总市值（百万元） 104,886 总股本/流通A股（百万股） 10,344/9,213 流通 B 股/H 股（百万股） 0/0 资产总额（百万元） 2,288,276 贷款总额（百万元） 1,099,073 存款总额（百万元） 1,396,366 核心一级资本充足率 9.39% 证 券 研 究 报 告 [Table_Trend] 升幅(%) 1M 3M 12M 绝对升幅 -1% 15% 25% 相对指数 1% 21% 36% [Table_Finance] 财务摘要（百万元） 2022A 2023A 2024E 2025E 2026E 营业收入 44,606 45,160 49,842 52,880 57 ...

[Table_Title] 南京银行（601009.SH） 非息高增，业绩好于预期 [Table_Summary] 核心观点： 南京银行发布 2024 年半年度报告，24H1 营收、PPOP、归母利润同 比增速分别为 7.9%、10.4%、8.5%；24Q2 单季度营收、PPOP、归 母净利润同比分别增长 13.6%、17.2%、12.0%。从上半年累计业绩驱 动上看，规模增长、非息收入高增、成本收入比下降是主要正贡献，息 差、拨备计提是主要负贡献。 亮点：（1）信贷保持较高增速。24H1 贷款同比增长 13.5%，结构上以 对公贷款为主，24H1 对公贷款同比增长 16.6%，基建和制造业贷款同 比增速分别为 34.3%、26.3%。个人贷款需求疲软，24H1 个贷同比增 长 4.4%，仅消费贷款正增，同比增长 9.4%。（2）其他非息收入保持 高增。24H1 公司其他非息收入同比增长 25.5%，环比 24Q1 提升 1.62pct，或主要得益于债牛行情下交易户浮盈，公允价值变动损益大 幅增长。（3）中收增长稳健。24H1 手续费及佣金净收入同比增长 13.3%，相对稳健，主要是代理咨询、担保承诺等业务保 ...

上 市 公 司 证 券 研 究 报 告 银行 公 司 研 究 / 公 司 点 评 07-3108-3109-3010-3111-3012-3101-3102-2903-3104-3005-3106-3007-31 -40% -20% 0% 20% 40% 南京银行 沪深300指数 (收益率) 一年内股价与大盘对比走势： | --- | --- | |-------------------------|---------------------| | 市场数据： | 2024 年 07 月 31 日 | | 收盘价（元） | 10.09 | | 一年内最高/最低（元） | 10.53/7.03 | | 市净率 | 0.7 | | 息率（分红/股价） | 5.32 | | 流通 A 股市值（百万元） | 92,956 | | 上证指数/深证成指 | 2,938.75/8,754.09 | | | | | --- | --- | |------------------------|---------------------| | 基础数据: | 2024 年 06 月 30 日 | | 每股净资产（元） | 14. ...

营收改善超预期，净息差降幅有限 ——南京银行 24H1 财报点评 核心观点 ⚫ 营收增速改善超预期，带动利润增速延续回升。截至 24H1，南京银行营收、 PPOP、归母净利润累计同比增速（下同）分别较 24Q1 提升 5.0pct、5.6pct、 3.4pct。营收增速改善，一是净利息收入增速季度环比上升 3pct；二是其他非息收 入增速上升 7.8pct，主要来自交易性金融资产公允价值变动的贡献，同时金融投资 中其他债权投资的比重环比有所提升，整体反映了南京银行出色的债券投资能力 ； 净手续费收入增速环比走弱 15.4pct。营收增速改善趋势下，利润增速跟随上行，但 减值损失计提提速影响下，PPOP 增速自 22H1 以来首次超过归母净利润增速。 ⚫ 资产扩张依旧强劲，主动负债占比提升，净息差收窄幅度较为有限。截至 24H1，南 京银行总资产增速环比上升 0.2pct 至 11.7%，其中贷款增速有所下降，但仍高于总 资产增速；负债结构中存款占比较年初下降 3.2pct，除了行业性的存款脱媒影响 外，我们理解可能也是银行主动调整负债结构的结果，进而推动负债成本的加速下 行。24H1 南京银行净息差较 202 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 11.94 CNY per share, compared to the current price of 10.09 CNY [1][3]. Core Insights - The company's revenue growth has improved beyond expectations, leading to a continued increase in profit growth. As of the first half of 2024, revenue, PPOP, and net profit attributable to the parent company have shown significant year-on-year growth compared to the previous quarter [2]. - The asset expansion remains strong, with a limited decline in net interest margin. The total asset growth rate increased to 11.7%, while the loan growth rate, although slightly decreased, still outpaced total asset growth [2]. - The report forecasts a steady increase in net profit attributable to the parent company for 2024, 2025, and 2026, with expected growth rates of 12.3%, 13.8%, and 13.7% respectively [3]. Financial Summary - For the fiscal year 2024, the company is projected to achieve a revenue of 49,352 million CNY, with a year-on-year growth of 9.3%. The net profit attributable to the parent company is expected to reach 26,883 million CNY, reflecting a growth of 12.3% [1][3]. - The earnings per share (EPS) is forecasted to be 1.90 CNY for 2024, increasing to 2.49 CNY by 2026. The book value per share (BVPS) is expected to rise from 14.79 CNY in 2024 to 18.33 CNY in 2026 [1][3]. - The price-to-book (PB) ratio is projected to decrease from 0.68 in 2024 to 0.55 in 2026, indicating a potentially undervalued stock [3].