重庆农村商业银行(03618) - 2024 Q1 - 季度业绩

Financial Performance - Operating income for Q1 2024 was RMB 7,125.5 million, a decrease of 2.94% compared to RMB 7,341.6 million in Q1 2023[4] - Net profit for Q1 2024 was RMB 3,661.6 million, down 8.77% from RMB 4,013.7 million in Q1 2023[4] - Net profit attributable to shareholders was RMB 3,524.3 million, reflecting a decline of 10.81% from RMB 3,951.4 million in the same period last year[4] - In Q1 2024, the group achieved a net profit of 3.662 billion yuan, a decrease of 8.77% year-on-year, primarily due to changes in credit impairment losses[14] - The group's operating income for the period was 7.125 billion yuan, down 2.94% year-on-year, with net interest income at 5.519 billion yuan[14] - The group's pre-provision profit was 5.123 billion yuan, an increase of 5.44% year-on-year, while the annualized return on total assets was 1.00%, down 0.17 percentage points[14] - The pre-tax profit for the three months ended March 31, 2024, was RMB 3,789,605, a decrease of 20% compared to RMB 4,728,494 in the same period of 2023[26] - The bank reported a basic and diluted earnings per share of RMB 0.31 for the current quarter, down from RMB 0.35 in the same period last year, reflecting a decrease of approximately 11.4%[22] Cash Flow and Liquidity - Cash flow from operating activities increased significantly by 83.14% to RMB 69,904.6 million, compared to RMB 38,170.9 million in Q1 2023[5] - The net cash flow from operating activities for the three months ended March 31, 2024, was RMB 69,904,634, an increase of 83% from RMB 38,170,881 in the same period of 2023[26] - Cash and cash equivalents as of March 31, 2024, totaled RMB 67,727,691, significantly up from RMB 26,997,573 at the same date in 2023[27] - The liquidity coverage ratio stood at 306.78% as of March 31, 2024, indicating strong liquidity position[13] Assets and Liabilities - Total assets as of March 31, 2024, reached RMB 1,491,522.8 million, representing a growth of 3.47% from RMB 1,441,522.1 million at the end of 2023[4] - Total customer loans and advances amounted to RMB 696,970.7 million, an increase of 2.99% from RMB 676,710.6 million at the end of 2023[4] - Total liabilities increased by 3.45% to RMB 1,363,024.5 million, up from RMB 1,317,580.3 million at the end of 2023[4] - The non-performing loan balance was 8.274 billion yuan, with a non-performing loan ratio of 1.19%, remaining stable compared to the end of the previous year[15] - The bank's total liabilities amounted to RMB 1,363,024,517 thousand, up from RMB 1,317,580,322 thousand, representing an increase of approximately 3.4%[25] - Customer loans and advances increased to RMB 666,682,870 thousand as of March 31, 2024, up from RMB 647,276,750 thousand at the end of 2023, reflecting a growth of approximately 3.1%[24] Credit and Impairment - Credit impairment losses for the period were 1.333 billion yuan, an increase of 1.203 billion yuan compared to the same period last year[14] - The company experienced a credit impairment loss of RMB 1,333,226 for the three months ended March 31, 2024, compared to RMB 130,247 in the same period of 2023, indicating a substantial increase in credit risk[26] - The group plans to continue enhancing the recovery of non-performing assets while maintaining prudent provisioning for impairment losses[14] Cost and Efficiency - The group’s cost-to-income ratio improved to 27.22%, a decrease of 5.79 percentage points year-on-year, attributed to resource optimization efforts[14]