Investment Rating - The investment rating for Beijing Bank is maintained at "Accumulate" [4] Core Views - The bank's dividend payout ratio is 30%, with a dividend yield of 5.3%, distributing a total of 3.2 CNY per 10 shares for 2024 [2] - As of the end of 2024, the bank's total assets grew by 12.6% year-on-year, with loans increasing by 9.8% and financial investments by 12.8% [2] - The average net interest margin for 2024 is projected at 1.47%, a decrease of 7 basis points year-on-year, primarily due to lower funding costs [2] - The bank is increasing its investment in digital transformation, with related expenditures reaching 3.12 billion CNY in 2024, accounting for 4.5% of total revenue [2] - Asset quality indicators remain stable, with a non-performing loan ratio of 1.31%, a decrease of 1 basis point year-on-year [3] - The bank's provisioning coverage ratio stands at 209% as of the end of 2024, reflecting a proactive approach to managing problem assets [3] - Revenue growth forecasts for 2025-2027 are adjusted to 2.78%, 2.31%, and 4.7%, respectively, with net profit growth rates of 2.14%, 2.08%, and 2.86% [3][4] Summary by Sections Financial Performance - For 2024, the bank's operating income is projected at 69.917 billion CNY, with a growth rate of 4.81% [4] - The net profit attributable to shareholders is expected to be 25.831 billion CNY, with a growth rate of 0.81% [4] - The bank's total assets are forecasted to reach 4.221 trillion CNY by the end of 2024 [10] Asset Quality - The non-performing loan ratio is 1.31%, with a focus on improving asset quality through active management [3] - The overdue loan ratio has decreased by 20 basis points compared to the first half of 2024 [3] Future Outlook - The bank is expected to continue its steady expansion while managing existing non-performing loans and enhancing digital capabilities [3]

北京天达共和律师事务所 关于北京银行股份有限公司 2025 年第二次临时股东大会 的法律意见书 致：北京银行股份有限公司 根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证 券法》（以下简称《证券法》）等法律、法规及规范性文件的规定，北京天达共和 律师事务所（以下简称"本所"）接受北京银行股份有限公司（以下简称"公司"或 "北京银行"）的委托，指派律师见证北京银行 2025 年第二次临时股东大会（以 下简称"本次股东大会"），并出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 本所律师根据《公司法》《证券法》等法律、法规、规范性文件以及《公司 章程》的规定，按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对本 次股东大会的召集及召开的有关事实及公司提供的文件进行了核查验证并出席 了本次股东大会，现出具法律意见如下： 一、本次股东大会的召集、召开程序 本次股东大会由公司董事会决定召集，并以现场表决与网络投票表决相结合 的方式召开。《会议通知》于 2025 年 4 月 1 日以公告的形式刊登于上海证券交易 所网站等符合国务院证券监督管理机构规定条件的 ...

重要内容提示： 证券代码：601169 证券简称：北京银行 公告编号：2025-024 北京银行股份有限公司 2025 年第二次临时股东大会决议公告 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。 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 4 月 16 日 (二)股东大会召开的地点：北京银行总行三层新闻发布厅 (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 | | | --- | --- | | | 1,254 | | 2、出席会议的股东所持有表决权的股份总数（股） | 11,152,560,555 | | 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 | 52.7482 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等 本次大会由董事会召集，采用现场投票和网络投票相结合的表决方式。会议 的召开符合《中华人民共和国公司法》和《北京银行股份有限公司章程》的规 ...

Core Viewpoint - Beijing Bank reported a total asset of 4.22 trillion yuan by the end of 2024, marking a 12.61% increase from the beginning of the year, with a net profit of 25.83 billion yuan, reflecting a 0.81% year-on-year growth, and a significant stock price increase of 43.69% over the year, the largest in nearly a decade [1] Financial Performance - The bank achieved an operating income of 69.917 billion yuan, a year-on-year increase of 4.81% [1] - Net interest income was 51.910 billion yuan, up 3.10% year-on-year, while non-interest income reached 18.007 billion yuan, growing by 10.06% [2] - The net interest margin was 1.47%, down 0.07 percentage points year-on-year, which is significantly lower than the industry average [2] Asset Quality - The non-performing loan (NPL) ratio decreased to 1.31%, down 0.01 percentage points from the beginning of the year, and overdue loans accounted for 1.62% of total loans, down 0.1 percentage points year-on-year [4] - The bank reported improvements in asset quality with a 4.3% increase in the amount of disposed non-performing assets and a 20.4% increase in cash recovery [4][5] Retail Business Growth - Retail business revenue reached 24.941 billion yuan, a 2.26% increase, contributing 36.97% to the total revenue [6] - Retail assets under management (AUM) grew to 1.22 trillion yuan, an increase of 178.8 billion yuan, representing a 17.25% growth, marking the best performance since the transformation [6] - Savings deposits increased by 123.1 billion yuan, with a growth rate of 19.99%, leading among 21 major banks [6] Strategic Focus for 2025 - The bank plans to enhance liability cost management and optimize customer structure while focusing on digital transformation and expanding into technology finance and specialized enterprises [3] - The bank aims to maintain a stable net interest margin and continue to grow non-interest income through investment banking and retail transformation [3] Specialty Financial Services - The bank reported significant growth in specialty financial services, with technology finance loans increasing by 40.52%, inclusive finance loans by 28.3%, green finance loans by 43.11%, and cultural finance loans by 32.39% [7]

Core Viewpoint - The banking industry is undergoing a significant reshaping amid a cyclical downturn, with Beijing Bank achieving a "double increase" in performance for 2024, showing revenue and net profit growth of 4.81% and 0.81% respectively, while its stock price surged by 43.69%, marking the largest increase in a decade [1][4]. Financial Performance - Beijing Bank's revenue and net profit for 2024 were reported at 66 billion yuan and 22 billion yuan respectively, with a net profit growth of only 0.81%, which is insufficient in the highly competitive city commercial bank sector [1][4]. - The bank's revenue composition remains primarily reliant on credit, with interest income, fee-based income, and other income accounting for 74.25%, 4.95%, and 20.8% respectively [6]. Digital Transformation - After three years of effort, Beijing Bank's digital transformation has entered the 2.0 phase, indicating that long-term investments in digital strategies are beginning to yield tangible results [2][25]. - The bank has initiated a three-year digital transformation plan, focusing on unifying data infrastructure, financial operating systems, and risk control platforms, with an annual investment in major technology projects [21][22]. Loan and Deposit Growth - Loan growth remains robust at 9.77%, while deposits increased by 18.34%, providing strong support for asset expansion [7]. - The growth in corporate business is crucial for maintaining interest income, with corporate deposits achieving a record growth rate of 17.67% and corporate loans growing by 14.33% [8]. Non-Interest Income - Non-interest income has seen an overall increase of 10.06%, driven by rising gold prices, although fee-based income has declined by 7.84% [12][18]. - The bank aims to accelerate its transition to low-capital business models to enhance non-interest income sources [19]. Investment Strategy - The bank's investment in gold has shifted from low-price buying to high-price selling, with a focus on five key areas for future investments [16]. - The bank's other debt investments have increased by 36.73%, and gold-related investments have surged by 81.37% [15]. Future Outlook - The bank plans to launch seven digital management platforms by 2025, transitioning management decisions from experience-based to data-driven approaches [26]. - The implementation of these digital systems is expected to facilitate differentiated pricing and enhance overall business management [27][28].

息差降幅优于同业，资产质量夯实 银行 2025 年 4 月 15 日 北京银行(601169.SH) 推荐（维持） 股价：6.06 元 主要数据 | 行业 | 银行 | | --- | --- | | 公司网址 | www.bankof beijing.com.cn | | 大股东/持股 | ING BANK N.V./13.03% | | 实际控制人 | | | 总股本(百万股) | 21,143 | | 流通 A 股(百万股) | 21,143 | | 流通 B/H 股(百万股) | | | 总市值（亿元） | 1,281 | | 流通 A 股市值(亿元) | 1,281 | | 每股净资产(元) | 12.73 | | 资产负债率(%) | 91.5 | 行情走势图 相关研究报告 【平安证券】北京银行（601169.SH）*季报点评*业绩 表现符合预期，零售转型持续推进*推荐20241031 证券分析师 | 袁喆奇 | 投资咨询资格编号 | S1060520080003 | | --- | --- | --- | | YUANZHEQI052@pingan.com.cn | 许淼 | 投资咨询资格编号 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of 6.82 RMB [9][10]. Core Views - The company's net profit for 2024 is expected to grow by 0.81% year-on-year, with operating income and PPOP increasing by 4.81% and 4.40% respectively, indicating a slight improvement in performance compared to previous quarters [1]. - The company is focusing on retail transformation and enhancing digital capabilities, which is anticipated to improve operational performance [1]. - The report predicts a target PB of 0.50 times for 2025, reflecting a cautious outlook on non-interest income growth [5]. Summary by Sections Financial Performance - For 2024, the company expects total assets, loans, and deposits to grow by 12.6%, 9.6%, and 18.2% respectively, showing significant acceleration compared to previous quarters [2]. - The net interest margin for 2024 is projected to remain stable at 1.47%, with slight declines in yield on earning assets and loans [2]. Non-Interest Income - Non-interest income is expected to increase by 10.1% year-on-year for 2024, with a narrowing decline in intermediary business income, primarily driven by growth in settlement and underwriting services [3]. - The company plans to accelerate its light-capital transformation and retail strategy to enhance its non-interest income sources [3]. Asset Quality - The non-performing loan ratio is stable at 1.31% with a provision coverage ratio of 209% as of the end of 2024, indicating solid asset quality [4]. - The report estimates a quarterly annualized non-performing loan generation rate of 1.14% for Q4 2024, reflecting a slight increase from the previous quarter [4]. Valuation Metrics - The report forecasts EPS for 2025 at 1.27 RMB, with a corresponding PB of 0.44 times, compared to a peer average of 0.65 times [5][28]. - The company’s projected ROE and ROA for 2024 are 7.56% and 0.65% respectively, indicating a slight decline from previous years [7][33].

Investment Rating - The investment rating for the company is "Recommended" [1] Core Views - The company's 2024 annual report shows a revenue of 69.9 billion yuan, a year-on-year increase of 4.8%, and a net profit attributable to shareholders of 25.8 billion yuan, a year-on-year increase of 0.8% [4][7] - The annualized weighted average ROE is reported at 8.65% [4] - The company has maintained a resilient net interest margin of 1.47%, with a slight year-on-year decline of 7 basis points, which is considered better than peers [7][10] - Total assets grew by 12.6% year-on-year, with loans increasing by 9.6% and deposits by 18.3% [4][7] Financial Performance Summary - The company achieved a net interest income of 51.9 billion yuan in 2024, reflecting a year-on-year growth of 3.1% [8][11] - Non-interest income increased by 10.1% year-on-year, with a notable growth in bond investment-related income [7][10] - The company’s total assets reached 4.22 trillion yuan by the end of 2024, with a loan total of 2.21 trillion yuan [11] Asset Quality Summary - The non-performing loan (NPL) ratio remained stable at 1.31%, with a year-on-year decrease of 1 basis point [10] - The provision coverage ratio was reported at 209%, indicating a stable risk mitigation capacity [10][11] - The company’s asset quality indicators show a trend of improvement, with a focus on retail and small micro-business risks [10] Future Outlook - The company is expected to continue benefiting from the economic recovery and the clearing of historical risks, leading to improved performance in the coming years [10] - Earnings per share (EPS) forecasts for 2025-2027 are adjusted to 1.23, 1.26, and 1.32 yuan respectively, with corresponding growth rates of 0.7%, 2.5%, and 5.0% [10][11]

Core Insights - Beijing Bank reported strong performance in retail business for the year 2024, highlighting significant growth and contributions to overall revenue [1] Group 1: Retail Business Performance - Retail revenue reached 24.941 billion yuan, a year-on-year increase of 2.26%, contributing 36.97% to the bank's total revenue [2] - Net interest income was 23.961 billion yuan, up 4.66% year-on-year, with a contribution increase of 2.48 percentage points [2] - Assets Under Management (AUM) hit a record 1.22 trillion yuan, growing by 178.778 billion yuan from the beginning of the year, representing a growth rate of 17.25% [2] - Individual loan balance reached 702.615 billion yuan, with personal business loans and consumer loans increasing their share by 3.4 percentage points [2] - Retail customer base surpassed 30.7 million, with VIP customers exceeding 1.1 million and private banking clients over 17,000 [2] Group 2: Service Expansion and Digital Transformation - The bank is focusing on enhancing financial services to support consumer demand and improve living standards [3] - The "Beijing Bank Service Action Plan" aims to support the construction of an international consumption center city [4] - Digital loan products like "Jing e-loan" saw a growth rate of 109% compared to the beginning of the year [4] - Credit card initiatives, such as the "Weekend Happiness Life" brand, attracted 16% more new customers year-on-year [4] - Consumer installment loans increased by 53% year-on-year, with new policies like zero down payment for auto loans and expedited approval for home decoration loans [4] - The bank partnered with the Beijing Federation of Trade Unions to create a platform for 6.3 million union members to enhance their consumption capabilities [4] - The bank improved payment convenience for foreign nationals in China by deploying nearly 12,000 foreign card POS terminals, with transaction amounts exceeding 60 million yuan [4]

智通财经4月15日电，北京银行4月14日晚发布2024年度业绩报告。截至报告期末，资产总额4.22万亿 元，较年初增长12.61%；实现营业收入699.17亿元，同比增长4.81%；实现归母净利润258.31亿元，同 比增长0.81%，经营质效持续在上市银行中保持较好水平。此外，不良贷款率1.31%，较年初下降0.01个 百分点；拨备覆盖率为208.75%，资产质量持续改善，风险抵补能力保持稳定。按一级资本在英国《银 行家》杂志全球千家大银行排名第51位，连续十一年入围全球百强银行。 北京银行2024年报亮剑：业绩稳中向上 持续行业领跑态势 ...