Chongqing Rural Commercial Bank(SH:601077) Hua Xia Shi Bao·2025-04-18 02:57Core Viewpoint - Chongqing Rural Commercial Bank, also known as YNong Bank, has appointed Liu Xiaojun as the new chairman after a six-month vacancy in the position, marking a significant leadership change for the bank [2][3]. Management Changes - Liu Xiaojun was elected as the executive director and chairman during the fifth board meeting on April 16, 2024, and his appointment is subject to approval from regulatory authorities [3]. - Liu Xiaojun has a strong educational background with a bachelor's degree from Xiamen University and a master's degree from Fudan University, along with extensive experience in banking and trust industries [3][4]. - Prior to joining YNong Bank, Liu served as the chairman of Chongqing Development Investment Company, indicating a strategic move within the local financial sector [4]. Financial Performance - In 2024, YNong Bank reported a revenue of 28.262 billion yuan, a year-on-year increase of 1.09%, and a net profit of 11.5127 billion yuan, up 5.60% from the previous year [5]. - The bank's non-interest income surged by nearly 30%, with investment income rising from 2.169 billion yuan in 2023 to 4.199 billion yuan, reflecting a 93.56% increase [5]. - As of the first quarter of 2025, YNong Bank achieved a revenue of 7.224 billion yuan, a 1.35% increase year-on-year, and a net profit of 3.817 billion yuan, up 4.24% [5]. Asset and Liability Overview - As of March 31, 2025, YNong Bank's total assets reached 1.61 trillion yuan, an increase of 95.388 billion yuan or 6.30% from the previous year [6]. - The total liabilities amounted to 1.474964 trillion yuan, reflecting a 6.78% increase [6]. - The bank maintained a non-performing loan ratio of 1.17%, a slight decrease from the previous year, and a provision coverage ratio of 363.30% [6]. Real Estate Sector Performance - Notably, YNong Bank reported zero non-performing loans in the real estate sector for 2024, a rare achievement in the industry [7]. - The bank clarified that a high amount of non-performing loans in the real estate sector in 2023 was due to a single asset, which has since been resolved [7]. - Future credit investments in the real estate sector will focus on major strategic projects in Chongqing, with decisions based on market assessments [7].