青农商行(002958) - 2024 Q3 - 季度财报

Financial Performance - Total operating income for Q3 2024 was CNY 2,583,576, a decrease of 2.03% compared to the same period last year[2] - Net profit for Q3 2024 reached CNY 1,187,899, reflecting an increase of 1.85% year-over-year[2] - The net profit attributable to shareholders of the parent company for the first nine months of 2024 was CNY 3,203,246, an increase of 5.16% year-over-year[2] - Total operating income for Q1-Q3 2024 reached RMB 8,442,466 thousand, an increase of 2.58% compared to RMB 8,230,273 thousand in the same period last year[21] - Net profit for Q1-Q3 2024 was RMB 3,203,014 thousand, up 4.26% from RMB 3,072,515 thousand in the previous year[21] - The net profit margin for Q1-Q3 2024 improved to 37.9%, compared to 37.4% in the previous year[21] - Basic earnings per share for Q1-Q3 2024 were RMB 0.55, compared to RMB 0.52 in the same period last year, reflecting a growth of 5.77%[21] Asset and Liability Management - Total assets as of September 30, 2024, amounted to CNY 479,010,156, representing a growth of 2.37% from the end of 2023[3] - The bank's total liabilities increased to CNY 437,392,698, a rise of 1.98% compared to the previous year[3] - The bank's total assets increased to CNY 502.719 billion as of September 30, 2024, compared to CNY 500.084 billion in June 2024[9] - Total liabilities reached RMB 437,392,698 thousand, compared to RMB 428,887,839 thousand, marking a year-over-year increase of 2.3%[19] - The bank's total equity attributable to ordinary shareholders increased to CNY 39.458 billion as of September 30, 2024, up from CNY 38.555 billion in June 2024[9] - The bank's equity attributable to shareholders increased to RMB 40,720,383 thousand from RMB 38,110,214 thousand, a growth of 6.9%[19] Credit Quality and Risk Management - The bank's non-performing loan ratio stood at 1.80%, slightly improved from 1.81% at the end of 2023[8] - The proportion of normal loans remains high at 92.65%, indicating a stable credit quality[10] - The bank's non-performing loan ratio remained stable, reflecting effective risk management strategies[20] - The bank reported a decrease in credit impairment losses to RMB 2,938,520 thousand in Q1-Q3 2024, down from RMB 2,905,474 thousand in the previous year, indicating improved asset quality[21] Capital Adequacy and Liquidity - The core tier 1 capital adequacy ratio was reported at 10.68%, up from 9.91% at the end of 2023[8] - The bank's liquidity ratio was reported at 96.73%, well above the regulatory requirement of 25%[8] - The liquidity coverage ratio stands at 307.07%, significantly above the regulatory requirement of 100%, with qualified liquid assets amounting to CNY 58.705 billion[10] - The leverage ratio is 7.85%, an increase from 7.71% in June 2024 and 7.44% in December 2023[9] - The bank's capital adequacy ratio is maintained at a healthy level, ensuring compliance with regulatory requirements[20] Income Sources and Growth - The bank's net commission and fee income increased by 32.02% year-on-year, reaching CNY 683.466 million, driven by higher agency and custody service fees[12] - The fair value gains on financial assets surged by 238.87% to CNY 941.896 million, attributed to increased fair value changes in trading financial assets[12] - Net interest income for Q1-Q3 2024 was RMB 5,397,963 thousand, down 5.76% from RMB 5,727,583 thousand in the previous year[21] - Investment income increased to RMB 1,187,270 thousand in Q1-Q3 2024, compared to RMB 1,299,251 thousand in the same period last year, reflecting a decrease of 8.61%[21] Operational Efficiency - The cost-to-income ratio improved to 25.61% for the first nine months of 2024, down from 31.70% in the previous year[8] - The bank's total expenses for Q1-Q3 2024 were RMB 5,182,193 thousand, an increase of 2.29% from RMB 5,066,485 thousand in the same period last year[21] Future Plans - The bank plans to expand its market presence through new product offerings and technological advancements in the upcoming quarters[20] - The bank plans to enhance its digital banking services and expand its market presence in rural areas[21]