Core Insights - Jincheng Bank reported a decline in both revenue and net profit for the first time since its Hong Kong listing, with revenue of 5.791 billion yuan, down 0.2% year-on-year, and net profit of 1.75 billion yuan, down 12.6% [1][3] Financial Performance - In 2024, Jincheng Bank's net interest income decreased to 4.189 billion yuan, a decline of 1.1% year-on-year, with net interest margin and net interest yield dropping to 1.07% and 1.2%, respectively [3][4] - The bank's fee and commission income fell to 627 million yuan, a decrease of 10.8%, primarily due to adjustments in trade financing business [4] - Credit impairment losses increased to 1.675 billion yuan, up 17% year-on-year, with loan impairment losses reaching 1.783 billion yuan, a significant increase of 85.9% [4] Asset Quality and Structure - As of the end of 2024, Jincheng Bank's total assets reached 376.306 billion yuan, with net loans and advances of 195.104 billion yuan, reflecting increases of 4.2% and 5.1% year-on-year, respectively [1][6] - The non-performing loan (NPL) balance was 356.6 million yuan, up 15.3 million yuan from the previous year, with an NPL ratio of 1.77%, a slight decrease of 0.01 percentage points [6] - The bank's financial investment assets increased by 17.6% to 106.796 billion yuan, with bond and fund investments totaling 98.359 billion yuan, an increase of 187.34 million yuan [1][8] Investment Strategy - Jincheng Bank has adjusted its asset structure by increasing investments in bonds and funds, with bond investments totaling 77.993 billion yuan, up 9% year-on-year, and fund investments reaching 20.366 billion yuan, a significant increase of 152.6% [7][8] - The bank's trading income and net investment securities income combined reached 930 million yuan, an increase of approximately 122 million yuan year-on-year [2][9]
晋商银行投资债券基金规模年增187亿 加大拨备计提上市五年净利首降12%