BANK OF XI'AN(600928)2025-04-29 14:50Financial Performance - As of the end of 2024, the total assets of Bank of Xi'an reached RMB 480.37 billion, an increase of 11.14% compared to the end of the previous year[10]. - The total principal of loans and advances amounted to RMB 237.25 billion, reflecting a growth of 16.92% year-on-year[10]. - The total principal of deposits reached RMB 322.03 billion, which is a 9.61% increase from the previous year[10]. - In 2024, the bank achieved an operating income of RMB 8.19 billion, representing a year-on-year growth of 13.68%[10]. - The net profit attributable to shareholders of the parent company was RMB 2.56 billion, up 3.91% year-on-year[10]. - The company's operating revenue for 2024 reached CNY 8,190,241 thousand, representing a year-on-year increase of 13.68% compared to CNY 7,204,769 thousand in 2023[23]. - The net profit attributable to shareholders of the parent company for 2024 was CNY 2,558,554 thousand, reflecting a growth of 3.91% from CNY 2,462,237 thousand in 2023[23]. - The basic earnings per share for 2024 was CNY 0.58, a 5.45% increase compared to CNY 0.55 in 2023[26]. - The company's net interest income was 5,523.87 million yuan, up 4.08% year-on-year, driven by growth in loans and advances[85]. - The company reported a significant increase in non-interest income, which rose by 40.54% to 2,666.37 million yuan[77]. Risk Management - The bank is committed to risk management, focusing on early detection and prevention of financial risks to maintain asset quality[12]. - The non-performing loan ratio increased to 1.72% in 2024, up from 1.35% in 2023, an increase of 0.37 percentage points[29]. - The capital adequacy ratio decreased to 12.41% in 2024 from 13.14% in 2023, a decline of 0.73 percentage points[29]. - The company has implemented measures to strengthen risk management and improve the quality of credit assets during the reporting period[151]. - The company has established a comprehensive risk management system to effectively identify, measure, monitor, and respond to various risks[172]. - The company has implemented a comprehensive credit risk management system to enhance asset quality and optimize credit structure, focusing on a unified credit assessment and risk management approach[173]. Customer and Market Development - The bank provided loans exceeding RMB 16 billion to key provincial and municipal projects throughout the year[12]. - New loans to the manufacturing sector amounted to nearly CNY 5 billion, supporting local economic development[48]. - The balance of loans to technology enterprises increased by CNY 1.63 billion, a growth of 26.54%[53]. - The company expanded its customer base for elderly financial services, conducting 5,249 financial activities and serving over 200,000 people[58]. - The company issued 8.38 million new credit cards during the reporting period, with total customer transactions reaching 11.76 million, a year-on-year increase of 14.80%[59]. - The company added 10,900 new inclusive small and micro customers, effectively expanding its inclusive customer base[61]. - The financial market business customer base grew to 1,800, with active bond trading reflecting regional and brand influence[64]. Operational Efficiency - The cost-to-income ratio improved to 24.44% in 2024 from 27.45% in 2023, a decrease of 3.01 percentage points[29]. - The liquidity coverage ratio significantly increased to 1110.87% in 2024, compared to 890.40% in 2023[42]. - The liquidity ratio improved to 165.05% in 2024 from 142.96% in 2023, an increase of 22.09 percentage points[29]. - The company focused on optimizing its asset and liability structure, leading to improved efficiency in fund utilization[79]. Future Outlook - Looking ahead to 2025, the bank aims to accelerate market-oriented high-quality reform and contribute to regional economic development[13]. - The company is pursuing a strategic vision of becoming a regionally leading bank with distinctive characteristics and excellent investment value[73]. - The company plans to implement a three-year action plan to achieve high-quality transformation and development[198]. Compliance and Governance - The company is committed to strengthening risk management and compliance, ensuring a robust foundation for sustainable development[75]. - The company has enhanced its internal audit and compliance management, optimizing audit standards and improving the efficiency of contract and legal document reviews[182]. - The company is focusing on improving its reputation risk management by optimizing the management mechanism and revising relevant policies to enhance overall management levels[188]. Challenges and Risks - The company faces challenges from increased competition and the need for innovation in financial services to adapt to market changes[196]. - Potential risks include a slowdown in macroeconomic growth, deep adjustments in the real estate market, and challenges related to digital transformation[200]. - The company faces increased risks related to data security and network security due to reliance on technological innovation and digital transformation[200].