Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [2][6]. Core Views - The company's operating income for the first three quarters of 2024 reached 50.8 billion yuan, a year-on-year increase of 7.4%, with a stable growth rate [1]. - The net profit attributable to shareholders for the same period was 20.7 billion yuan, also reflecting a year-on-year growth of 7.0% [1]. - The total assets as of the end of Q3 2024 grew by 14.9% year-on-year to 3.07 trillion yuan, with loan and deposit growth rates of 19.6% and 18.1%, respectively [1]. - The net interest margin remained stable at 1.85%, with net interest income increasing by 16.9% year-on-year [1]. - The non-performing loan ratio stood at 0.76%, with a rise in the attention rate to 1.08% [1]. Summary by Sections Financial Performance - The company achieved a weighted average return on equity (ROE) of 14.1% for the first three quarters, a decrease of 1.5 percentage points from the previous year [1]. - The forecast for net profit attributable to shareholders for 2024-2026 is 27.4 billion, 29.5 billion, and 31.9 billion yuan, with growth rates of 7.3%, 7.7%, and 8.1% respectively [1][3]. Valuation Metrics - The diluted earnings per share (EPS) for 2024-2026 are projected to be 4.03, 4.35, and 4.71 yuan, with corresponding price-to-earnings (PE) ratios of 6.4, 6.0, and 5.5 times [1][3]. - The price-to-book (PB) ratios for the same period are expected to be 0.86, 0.77, and 0.69 times [1][3]. Asset Quality - The company reported a non-performing loan generation rate of 1.26%, an increase of 0.37 percentage points year-on-year [1]. - The provision coverage ratio decreased to 405%, down 16 percentage points from the previous quarter and 76 percentage points from the beginning of the year [1].

Investment Rating - The report maintains a "Buy" rating for Ningbo Bank [4] Core Views - Ningbo Bank's performance in Q3 2024 shows solid growth, with net interest income increasing by 17% and a stable non-performing loan ratio of 0.76% [1][2] - The bank's total revenue for the first three quarters reached 50.8 billion yuan, a year-on-year increase of 7.4%, while net profit attributable to shareholders was 20.7 billion yuan, up 7.0% year-on-year [1] - The bank's cost-to-income ratio improved significantly, decreasing by 3.8 percentage points to 33.4% [1] Financial Performance - **Net Interest Income**: Increased by 16.9% year-on-year, with a net interest margin of 1.85%, showing a slight decline of 2 basis points [1] - **Non-Interest Income**: Decreased by 9.3% year-on-year, primarily due to a 30.3% drop in net fee income [1] - **Cost-to-Income Ratio**: Improved to 33.4%, indicating effective cost management [1] Asset Quality - **Non-Performing Loan Ratio**: Remained stable at 0.76% as of September, with a non-performing loan generation rate of 0.96%, showing improvement [2] - **Provision Coverage Ratio**: Stood at 405%, reflecting a strong buffer against potential loan losses [2] Asset and Liability Management - **Total Assets**: Reached 3.07 trillion yuan, a year-to-date increase of 13.1% [3] - **Loan Growth**: Total loans amounted to 1.46 trillion yuan, up 16.2% year-to-date, with significant growth in retail loans [3] - **Deposit Growth**: Deposits increased by 19.0% year-to-date, totaling 1.86 trillion yuan [3] Investment Recommendation - The report suggests that Ningbo Bank's overall performance is solid and stable, with expectations for continued stability in annual performance. The bank is positioned for both stability and growth in the current environment, justifying the "Buy" rating [3]

Financial Performance - The company's operating revenue for Q3 2024 reached RMB 16,316 million, an increase of 8.12% year-on-year, while the revenue for the first nine months of 2024 was RMB 50,753 million, up 7.45% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2024 was RMB 7,058 million, reflecting a growth of 10.25% year-on-year, and for the first nine months, it totaled RMB 20,707 million, an increase of 7.02%[3]. - Basic earnings per share for Q3 2024 were RMB 1.01, an increase of 4.12% year-on-year, while for the first nine months, it was RMB 3.08, up 5.12%[3]. - The total comprehensive income for Q3 2024 was RMB 7,739 million, an increase from RMB 5,987 million in Q3 2023[36]. - The total comprehensive income for the first nine months of 2024 was RMB 22,397 million, an increase from RMB 18,621 million in the same period of 2023[37]. Assets and Liabilities - Total assets as of September 30, 2024, amounted to RMB 3,067,666 million, representing a 13.13% increase from the end of 2023[5]. - The total equity attributable to shareholders of the parent company was RMB 222,181 million, up from RMB 201,195 million year-over-year[33]. - The bank's total liabilities and equity reached RMB 3,067,666 million, reflecting a strong growth trajectory[33]. - The bank's total assets increased to RMB 3,000 billion as of September 2024, reflecting a growth of 10% year-over-year[40]. Customer Loans and Deposits - Customer loans and advances reached RMB 1,455,705 million, marking a 16.20% increase compared to the end of 2023[5]. - Customer deposits totaled RMB 1,863,759 million, up 18.99% from the end of 2023[5]. - The net increase in customer deposits and interbank placements was RMB 331,568 million for the first nine months of 2024, compared to RMB 267,978 million in the same period of 2023[40]. Profitability Ratios - The weighted average return on equity (annualized) decreased by 1.47 percentage points to 14.05% for Q3 2024, and by 1.43 percentage points to 14.51% for the first nine months[3]. - The annualized weighted average return on equity was 14.51%, while the total asset return rate stood at 0.96%[25]. - The provision coverage ratio was 404.80%, indicating strong risk mitigation capabilities[25]. Impairment and Loss Provisions - The provision for loan losses increased to RMB 9,253 million during the period[16]. - The total impairment provision for financial assets reached RMB 4,210 million, with a current period provision of RMB 342 million[17]. - The bank's credit impairment losses for the first nine months of 2024 were RMB 9,573 million, compared to RMB 8,137 million in the same period last year[33]. - The total impairment provision for debt investments was RMB 1,577 million, with a current period provision of RMB 292 million[17]. Shareholder Information - The company reported a total of 131,633 common shareholders at the end of the reporting period, with the top ten shareholders holding a combined 56.79% of shares[19]. - Ningbo Development Investment Group Co., Ltd. holds 18.74% of shares, making it the largest shareholder with 1,237,489,845 shares[19]. - Singapore Overseas Chinese Bank holds 18.69% of shares, totaling 1,233,993,375 shares, with 75,819,056 shares under lock-up conditions[19]. - The company has a total of 10 preferred shareholders, with the largest holding 17.88% of the preferred shares, amounting to 8,670,000 shares[22]. Operational Efficiency - The company reported a net cash flow from operating activities of RMB 125,004 million for the first nine months, a decrease of 16.09% year-on-year[3]. - Cash flow from operating activities for the first nine months of 2024 was RMB 125,004 million, down from RMB 148,980 million in the same period of 2023[40]. - The net cash flow from financing activities was RMB 20,681 million in Q3 2024, compared to a net outflow of RMB 80,895 million in Q3 2023[41]. Strategic Focus - The company emphasized a strategy focused on "serving the real economy" and enhancing financial technology capabilities[24]. - The bank plans to expand its digital banking services and enhance its technology infrastructure in the upcoming quarters[37]. Other Financial Metrics - Non-recurring gains and losses for Q3 2024 amounted to a net loss of RMB 14 million, compared to a loss of RMB 80 million for the first nine months[7][8]. - Commission and fee expenses increased by 40.41% to RMB 1,237 million compared to the same period last year[9]. - Other income decreased by 39.46% to RMB 336 million, primarily due to reduced subsidies for small and micro enterprises[9]. - The bank's investment income for the first nine months of 2024 was RMB 8,923 million, down from RMB 9,459 million in the same period last year[33].

1 审议通过了《宁波银行股份有限公司 2024 年第三季度报告》。 经审核，监事会认为公司编制《宁波银行股份有限公司 2024 年第 三季度报告》的程序符合法律、行政法规和中国证监会的规定， 报告内容真实、准确、完整地反映了公司的实际情况，不存在任 何虚假记载、误导性陈述或者重大遗漏。 本议案同意票 7 票，反对票 0 票，弃权票 0 票。 特此公告。 宁波银行股份有限公司监事会 证券代码：002142 证券简称：宁波银行 公告编号：2024-044 优先股代码：140001、140007 优先股简称：宁行优01、宁行优02 宁波银行股份有限公司 第八届监事会第六次临时会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 宁波银行股份有限公司（以下简称"公司"）于 2024 年 10 月 23 日以电子邮件及书面方式向全体监事发出关于召开第八届监事 会第六次临时会议的通知，并于 2024 年 10 月 28 日进行了表决。 公司应参加表决监事 7 人，实际参加表决监事 7 人。会议召开符 合《公司法》《公司章程》的规定，本次会议合法有效。会议以通 讯表 ...

证券代码：002142 证券简称：宁波银行 公告编号：2024-043 优先股代码：140001、140007 优先股简称：宁行优01、宁行优02 宁波银行股份有限公司第八届董事会 第五次临时会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 本议案同意票 14 票，反对票 0 票，弃权票 0 票。 特此公告。 宁波银行股份有限公司董事会 宁波银行股份有限公司（以下简称"公司"）于 2024 年 10 月 23 日以电子邮件及书面方式向全体董事发出关于召开第八届董事 会第五次临时会议的通知，并于 2024 年 10 月 28 日进行了表决。 公司应参加表决董事 14 名，实际参加表决董事 14 名。会议召开 符合《公司法》《公司章程》的规定，本次会议合法有效。会议以 通讯表决的方式审议通过了以下议案： 一、审议通过了《宁波银行股份有限公司 2024 年第三季度报 告》。 本议案同意票 14 票，反对票 0 票，弃权票 0 票。 二、审议通过了《关于发放优先股股息的议案》。 同意公司于 2024 年 11 月 18 日向截至 2024 年 11 月 ...

编号:2024-32 证券代码：002142 证券简称：宁波银行 宁波银行股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------------------------------------------------|----------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活 ...

证券代码：002142 证券简称：宁波银行 公告编号：2024-042 优先股代码：140001、140007 优先股简称：宁行优01、宁行优02 宁波银行股份有限公司 关于独立董事减持股份的预披露公告 董事李浩先生保证向本公司提供的信息内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的 信息一致。 特别提示： 持有本公司股份165,000股（占本公司总股本比例 0.0025%）的独立董事李浩先生计划在本公告披露之日起十五个交 易日后的三个月内，以集中竞价方式减持本公司股份不超过41,250 股（占本公司总股本比例0.0006%）。 近日，宁波银行股份有限公司（以下简称"公司"）收到独立 董事李浩先生《关于宁波银行股份有限公司股份减持计划的告知 函》，具体情况如下： 一、 董事的基本情况 4、减持方式：集中竞价。 5、减持期间：自公告之日起十五个交易日后的三个月内（即 2024年11月7日-2025年2月6日）。 1、董事姓名：李浩。 2、董事持股情况：李浩先生持有公司股份165,000股，占公 司总股本的0.0025%。 1 二、 本次减持 ...

编号:2024-31 证券代码：002142 证券简称：宁波银行 宁波银行股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------------------------------------------------|----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | 特定对象调研 \n□媒体采访 \n□新闻发布会 \n□现场参观 | □分析师会议 \n□业绩说明会 ...

编号:2024-30 证券代码：002142 证券简称：宁波银行 宁波银行股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

编号:2024-29 证券代码：002142 证券简称：宁波银行 宁波银行股份有限公司投资者关系活动记录表 | --- | --- | --- | |----------------------------------------------------------------------|----------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | 特定对象调研 \n□媒体采访 \n□新闻发布会 \n□现场参观 | □分析师会议 \n□业绩说明会 \n□路演活动 \n□其他： | | 活动参与人员 | 公司投关团队； 泰康资产 ...