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。 证券代码：601665 证券简称：齐鲁银行 公告编号：2024-057 可转债代码：113065 可转债简称：齐鲁转债 齐鲁银行股份有限公司 关于"齐鲁转债"2024 年付息事宜的公告 重要内容提示： 齐鲁银行股份有限公司（以下简称"公司"）于 2022 年 11 月 29 日公开发 行的 80 亿元 A 股可转换公司债券（以下简称"可转债"、"本期债券"或"齐 鲁转债"）将于 2024 年 11 月 29 日开始支付自 2023 年 11 月 29 日至 2024 年 11 月 28 日期间的利息。根据《齐鲁银行股份有限公司公开发行 A 股可转换公司债 券募集说明书》（以下简称"《募集说明书》"）有关条款的规定，现将有关事 项公告如下： 一、可转债发行上市概况 7、票面金额及发行价格：本次发行的可转债每张面值为人民币 100 元，按 照面值发行。 1 / 4 可转债付息债权登记日：2024 年 11 月 28 日 可转债除息日：2024 年 11 月 29 日 可转债兑息日：2 ...

Investment Rating - Maintains an "Overweight" rating [2] Core Views - Qilu Bank's revenue for the first three quarters of 2024 increased by 4.3% YoY, with net profit attributable to the parent company rising by 17.2% YoY (Q3 single quarter increased by 1.7% and 17.7% respectively) [2] - Net interest income decreased by 2.1% YoY (Q3 single quarter decreased by 2.0%), with loan growth slowing and interest margins narrowing [2] - Fee income increased by 17.6% YoY (Q3 single quarter increased by 32.7%) [2] - Investment-related income increased by 33.8% YoY (Q3 single quarter increased by 10.5%) [2] - Impairment losses decreased by 5.0% YoY, with the comprehensive credit cost slightly dropping to 0.74% [2] Scale and Loan Growth - Loan growth slowed to 13.4% YoY (compared to 15.3% in the first half of the year), with corporate and retail loan growth rates at 16.0% and 5.0% respectively [3] - New loans in the first three quarters amounted to approximately 32 billion yuan, a decrease of about 4 billion yuan YoY, with corporate, retail, and bill financing contributing 83%, 10%, and 7% respectively [3] Interest Margin - The interest margin for the first three quarters decreased by 2 basis points compared to the first half of the year, with a 4 basis point decrease in Q3 [3] Asset Quality - Non-performing loan ratio decreased by 1 basis point to 1.23%, with the provision coverage ratio increasing by 3 percentage points to 313% [3] - The loan-to-deposit ratio decreased by 1 basis point to 3.83%, and the attention rate decreased by 2 basis points to 1.12% [3] Earnings Forecast and Valuation - Adjusted earnings forecast for 2024 and 2025, with EPS expected to be 1.04 yuan and 1.14 yuan respectively [3] - Estimated net asset value per share at the end of 2024 is 7.84 yuan, with a PB ratio of 0.72 times based on the closing price on November 4, 2024 [3] Balance Sheet and Income Statement Forecast - Total assets are projected to grow from 506,013 million yuan in 2022 to 932,756 million yuan in 2026 [4] - Net interest income is expected to increase from 8,575 million yuan in 2024 to 9,758 million yuan in 2026 [5] - Net profit attributable to the parent company is forecasted to rise from 3,587 million yuan in 2024 to 5,829 million yuan in 2026 [5] - EPS is projected to grow from 0.73 yuan in 2024 to 1.24 yuan in 2026 [5] - ROAE is expected to remain stable around 13.84% to 13.91% from 2024 to 2026 [5]

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1][2] Core Insights - The company has achieved a double-digit growth in net profit, with a year-on-year increase of 17.7% in Q3 2024. The revenue for the same quarter increased by 1.7% year-on-year, while the revenue for the first three quarters of 2024 grew by 4.26% year-on-year [2][3] - The asset quality of the company is stable and improving, with a non-performing loan ratio of 1.23% in Q3 2024, a decrease of 1 basis point from the previous quarter. The coverage ratio for provisions is robust at 312.74%, reflecting strong risk mitigation capabilities [2][3] - The net interest margin has shown a narrowing decline, with a measured net interest margin of 1.37% in Q3 2024, down 3 basis points from the previous quarter. The yield on interest-earning assets decreased by 11 basis points to 3.24% [3][12] Financial Performance Summary - For 2024, the company is projected to achieve a revenue of 11,064 million yuan, with a year-on-year growth of 4.22%. The net profit is expected to reach 3,587 million yuan, reflecting a growth rate of 15.35% [5][14] - The earnings per share (EPS) for 2024 is forecasted at 1.01 yuan, with a projected growth rate of 15.35% for net profit in 2024, followed by 10.35% in 2025 and 11.38% in 2026 [3][14] - The company’s price-to-earnings (PE) ratio for 2024 is estimated to be between 6.25 and 6.88 times, while the price-to-book (PB) ratio is projected at 0.90 times [3][14] Valuation Analysis - The reasonable value range for the company is estimated between 6.32 yuan and 6.95 yuan based on the Dividend Discount Model (DDM) and comparable valuation methods [3][6] - The company’s average return on equity (ROE) is projected to be around 13.68% by 2026, indicating a stable profitability outlook [14]

证券代码：601665 证券简称：齐鲁银行 公告编号：2024-056 可转债代码：113065 可转债简称：齐鲁转债 齐鲁银行股份有限公司 关于赎回二级资本债券的公告 截至本公告日，经国家金融监督管理总局山东监管局批准，公司已行使赎回 权并全额赎回了本期债券。 特此公告。 齐鲁银行股份有限公司董事会 2024 年 11 月 6 日 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。 2019 年 11 月，齐鲁银行股份有限公司（以下简称"公司"）在全国银行间 债券市场发行了规模为人民币 20 亿元的 10 年期二级资本债券（以下简称"本期 债券"）。根据本期债券募集说明书相关条款的规定，本期债券设有发行人赎回选 择权，发行人有权在本期债券第 5 个计息年度的最后一日（2024 年 11 月 5 日）， 按面值全部赎回本期债券。 ...

%% %% 丨证券研究报告丨 公司研究丨点评报告丨齐鲁银行（601665.SH） [Table_Title] 步步为营的可持续成长周期 ——2024 年三季报点评 | --- | --- | |----------------------------------------------------------------------------------------------------------|-------| | | | | 年前三季度营收继续保持稳定正增长，归母净利润增速上升至 17.2% ，今年以 | | | 股上市银行第四。其中利息净收入增速 -2.1% ，降幅边际收窄，手 高增速。资产质量近年来持续改善，信用减值降低 | | | | | 分析师及联系人 [Table_Author] 马祥云 盛悦菲 SAC：S0490521120002 SAC：S0490524070002 SFC：BUT916 请阅读最后评级说明和重要声明 齐鲁银行（601665.SH） cjzqdt11111 2024-11-03 公司研究丨点评报告 [Table_Rank]投资评级 买入丨维持 相关研究 [Table_ ...

Investment Rating - The investment rating for Qilu Bank is "Buy" and is maintained [6] Core Views - Qilu Bank's performance continues to improve with a revenue of 9.48 billion yuan for the first three quarters of 2024, representing a year-on-year growth of 4.3%, and a net profit attributable to shareholders of 3.44 billion yuan, up 17.2% year-on-year [1][2] - The bank's asset quality is continuously optimizing, with a non-performing loan ratio of 1.23% and a provision coverage ratio of 312.74% as of the end of Q3 2024, showing a slight decrease and an increase respectively compared to the previous quarter [1][3] - The bank's total assets and total loans reached 668.1 billion yuan and 332.5 billion yuan respectively by the end of Q3 2024, with year-on-year growth rates of 17.5% and 13.3% [4] Financial Performance - Revenue and net profit growth rates for Q1-Q3 2024 are 4.3% and 17.2% respectively, with a slight decline in revenue growth attributed to bond market fluctuations affecting investment income [2] - Net interest income for Q1-Q3 2024 decreased by 2.1% year-on-year, while net fee and commission income increased by 17.6% [2] - Other non-interest income saw a significant increase of 25.9% year-on-year, although Q3 saw a 37.0% decline in investment income [2] Asset Quality - As of Q3 2024, the non-performing loan ratio and attention ratio were 1.23% and 1.12%, respectively, indicating ongoing improvement in asset quality [3] - The bank recorded a credit impairment loss of 3.48 billion yuan for Q1-Q3 2024, which is 180 million yuan less than the previous year, resulting in a credit cost of 1.52% [3] Balance Sheet - Total assets and total loans as of Q3 2024 were 668.1 billion yuan and 332.5 billion yuan, with year-on-year growth rates of 17.5% and 13.3% respectively [4] - Total liabilities and total deposits reached 622.7 billion yuan and 436.0 billion yuan, with year-on-year growth rates of 17.3% and 7.9% respectively [4]

| --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains an "Overweight" rating for Qilu Bank [1] Core Views - Qilu Bank's net profit growth accelerated in Q3 2024, with net profit attributable to parent company reaching RMB 3.442 billion, up 17.19% YoY [1] - The bank's asset expansion exceeded 17%, with total assets reaching RMB 668.1 billion by Q3 2024, a 17.5% YoY increase [1] - Qilu Bank's non-performing loan ratio decreased to 1.23% by Q3 2024, with provision coverage ratio rising to 312.74% [1] - The bank's core tier 1 capital adequacy ratio improved to 10.26% in Q3 2024, providing solid foundation for future expansion [1] Financial Performance - Qilu Bank achieved operating income of RMB 9.485 billion in the first three quarters of 2024, representing a 4.26% YoY growth [1] - The bank's net investment income and net fee income increased by 9.7% and 17.6% respectively in Q1-Q3 2024 [1] - Annualized ROE reached 11.96% in Q3 2024, up 0.11 percentage points YoY [1] Business Development - Loan balance reached RMB 332.5 billion by Q3 2024, with corporate loans growing 16% YoY and retail loans increasing 5.03% [1] - The bank expanded its network with 28 new outlets established between 2021-2023, including the newly opened Heze branch in June 2024 [1] - Qilu Bank focuses on key sectors including inclusive finance, green finance, and manufacturing [1] Future Projections - The report forecasts net profit attributable to parent company growth of 15.2%, 17.7%, and 17.3% for 2024-2026 respectively [2] - EPS is projected to reach RMB 1.01, 1.19, and 1.38 for 2024-2026 [2] - The bank's asset scale is expected to maintain rapid growth, with total assets projected to reach RMB 960.306 billion by 2026 [6] Capital Management - The convertible bond conversion ratio reached 17.44%, potentially further strengthening core capital [2] - Dividend payout ratio increased to 26.7% in 2023, up 1.2 percentage points from 2022 [1]

[Table_Title] 研究报告 Research Report 31 Oct 2024 中国银行行业 China (A-share) Banks 24Q3 齐鲁银行业绩点评：净息差承压，不良率和关注率环比下降 24Q3 Qilu Bank Results Review: NIM Under Pressure, NPL & Special Mention Ratio Decreased QoQ 周琦 Nicole Zhou, CFA nicole.q.zhou@htisec.com [Table_yemei1] 热点速评 Flash Analysis [(Table_summary] Please see APPENDIX 1 for English summary) 事件 齐鲁银行发布 2024 年三季报业绩。24Q3 营收同比+1.7%，拨备前利润同比+0.4%，归母净利润同比+17.7%。24Q1-3 营收同比+4.3%，拨备前利润同比+3.1%，归母净利润同比+17.2%。24Q1-3 年化 ROE 同比+0.11pct 至 11.96%。核心 一级资本充足率同比+0.53pct 至 10.26% ...

齐鲁银行股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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。 重要内容提示： 投资者可于 2024 年 10 月 31 日（星期四）至 11 月 6 日（星期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过齐鲁银行股份有限 公司（以下简称"公司"）投资者沟通邮箱（ir@qlbchina.com）进行提问。公司 将在业绩说明会上对投资者普遍关注的问题进行回答。 公司于 2024 年 10 月 31 日在上海证券交易所网站（www.sse.com.cn）披露 2024 年第三季度报告，为便于广大投资者更全面深入地了解公司经营成果、财 务状况等，公司计划于 2024 年 11 月 7 日（星期四）上午 9:00-10:00 举行 2024 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、业绩说明会类型 证券代码：601665 证券简称：齐鲁银行 公告编号：2024-055 可转债代码：113065 可转债简称：齐鲁转债 会议召开时间：2024 年 ...