Financial Performance - The Bank of Zhengzhou Co., Ltd. reported its audited consolidated annual results for the year ending December 31, 2024[2]. - Operating income was RMB 12.890 billion, while net profit was RMB 1.863 billion, representing a year-on-year growth of 0.21%[11]. - Operating revenue for 2024 was RMB 12,890,323 thousand, a decrease of 5.91% compared to RMB 13,699,410 thousand in 2023[22]. - Total profit increased by 2.69% to RMB 1,786,431 thousand from RMB 1,739,636 thousand in the previous year[22]. - Net profit attributable to shareholders was RMB 1,875,762 thousand, reflecting a 1.39% increase from RMB 1,850,117 thousand in 2023[22]. - The total amount of loans and advances (excluding accrued interest) was RMB 387,690,452 thousand, up 7.51% from RMB 360,608,206 thousand in 2023[23]. - The total assets of Zhengzhou Bank reached RMB 676.365 billion, an increase of 7.24% compared to the previous year[39]. - The total deposits absorbed by Zhengzhou Bank amounted to RMB 404.538 billion, reflecting a growth of 12.07% year-on-year[39]. - The non-performing loan ratio stood at 1.79%, with a provision coverage ratio of 182.99%[11]. Risk Management - The board confirmed that there are no significant risks affecting the bank's future development strategy and operational goals[7]. - The report includes a detailed description of the main risks faced by the bank and the measures taken to address them[7]. - Zhengzhou Bank is committed to risk management and compliance, focusing on credit risk management and enhancing its risk management efficiency[14]. - The non-performing loan ratio improved to 1.79%, down from 1.87% in the previous year[25]. - The provision coverage ratio for commercial banks stood at 211.19%, and the loan provision ratio was 3.18%[36]. Capital and Liquidity - The capital adequacy ratio stood at 12.06%, a decrease of 0.32% from 12.38% in 2023[25]. - The liquidity coverage ratio increased to 305.04%, up from 265.83% in the previous year[25]. - The core tier 1 capital adequacy ratio as of December 31, 2024, was 8.76%, a slight decrease from 8.90% at the end of 2023[183]. - The total capital adequacy ratio as of December 31, 2024, was 12.06%, down from 12.38% at the end of 2023[183]. - The net amount of tier 1 capital as of December 31, 2024, was RMB 53.937 billion, compared to RMB 50.719 billion at the end of 2023[185]. Loans and Advances - Total loans reached RMB 387.690 billion, with a year-on-year increase of 7.51%[11]. - Policy-oriented sci-tech financial loans amounted to RMB 48.269 billion, growing at a rate of 44.50%[12]. - Green finance loan balance reached RMB 9.146 billion, with a significant growth rate of 123.73%[12]. - The company's loan portfolio composition as of December 31, 2024, included corporate loans at RMB 268,943,624 thousand (69.37%), personal loans at RMB 90,956,747 thousand (23.46%), and bill discounting at RMB 27,790,081 thousand (7.17%)[95]. - The total amount of loans and advances was RMB 387.69 billion, with a non-performing loan rate of 1.79%[129]. Deposits and Funding - Total deposits reached RMB 404.54 billion, an increase of RMB 43.58 billion or 12.07% compared to the previous year[115]. - The bank's liabilities totaled RMB 620.07 billion, an increase of RMB 43.68 billion or 7.58% compared to the previous year[112]. - Deposits absorbed by the bank increased by RMB 46.57 billion, accounting for 66.62% of total liabilities[114]. Income and Expenses - The company's net interest margin decreased to 1.63% from 2.00% in the previous year[49]. - Non-interest income increased by 28.88% to RMB 2.53 billion, compared to RMB 1.96 billion in the previous year[47]. - Operating expenses amounted to RMB 3.904 billion, an increase of RMB 0.046 billion or 1.18% compared to the previous year[80]. - Interest expenses for the reporting period were RMB 12.991 billion, a decrease of RMB 0.029 billion or 0.22% year-on-year[66]. Strategic Initiatives - The bank aims to enhance its service to the real economy and deepen its business transformation by 2025[14]. - The company is focusing on the development of technology finance, green finance, inclusive finance, pension finance, and digital finance to support local economic development[187]. - The bank established 400 community volunteer service stations and 23 inclusive finance service ports, covering 2,363 villages and towns[13]. Awards and Recognition - The company received multiple awards in 2024, including "Best Retail Banking Customer Experience Award" and "Best ESG Management Listed Company"[44]. - The company ranked 6th in the "Top 100 Service Industry Enterprises in Henan Province" for 2024[44].
郑州银行(06196) - 2024 - 年度业绩