HZBank(SH:600926) Jin Rong Jie·2025-04-02 11:31Core Viewpoint - Hangzhou Bank demonstrates resilience and growth amidst industry challenges, showcasing strong financial performance and strategic focus on high-quality development [1][2][3] Group 1: Management Changes - On April 2, Hangzhou Bank announced the resignation of Yu Liming as Vice Chairman and President due to personal reasons, with Chairman Song Jianbin temporarily assuming the role of President [1] - The bank stated that its operations remain normal and well-managed, indicating that the resignation will not significantly impact management [1] Group 2: Financial Performance - In Q1 2025, Hangzhou Bank reported operating income of 9.978 billion yuan, a year-on-year increase of 2.22%, and net profit attributable to shareholders of 6.021 billion yuan, up 17.30% from the previous year [1] - Total assets reached 222.02 billion yuan, growing by 5.11% since the end of the previous year, with total loans at 99.5196 billion yuan (up 6.15%) and total deposits at 134.8779 billion yuan (up 5.99%) [1] - The bank maintained a low non-performing loan ratio of 0.76% and a provision coverage ratio of 530.07%, indicating strong asset quality [1] Group 3: Strategic Focus and Growth - Hangzhou Bank has shown strong growth with total assets surpassing 2 trillion yuan, reaching 2,112.591 billion yuan by the end of 2024, a year-on-year increase of 14.73% [2] - The bank achieved operating income of 38.381 billion yuan and net profit of 16.983 billion yuan for the year 2024, reflecting growth rates of 9.61% and 18.08% respectively [2] - The bank's non-performing loan ratio remained at 0.76% with a provision coverage ratio above 530%, positioning it favorably within the industry [2] Group 4: Shareholder Returns - Hangzhou Bank has implemented a proactive dividend policy, with a mid-year dividend of 0.37 yuan per share, totaling 5.303 billion yuan in dividends for 2024 [2] - Since its IPO, the bank has returned over 17 billion yuan in cash dividends to investors, significantly exceeding its total equity financing of approximately 15 billion yuan [2] Group 5: Unique Business Approach - The bank has adopted a differentiated and specialized approach to its operations, focusing on supporting the real economy and optimizing its credit structure [3] - Hangzhou Bank has been recognized for its contributions to the economic development of Zhejiang Province and has been a pioneer in providing financial services for technology innovation since establishing its first technology-focused branch in 2009 [3]