顺德农商银行利润“三连降” 拟吸收多家村镇银行扩展版图

Core Viewpoint - Shunde Rural Commercial Bank reported a slight increase in operating income for 2024, but experienced a decline in total profit and net profit, marking a third consecutive year of profit decrease [1] Financial Performance - In 2024, the bank achieved operating income of 8.377 billion yuan, a year-on-year increase of 1.40% - Total profit amounted to 3.397 billion yuan, a decrease of 7.17% - Net profit was 3.177 billion yuan, down 7.89% year-on-year [1] - The bank maintained a dividend payout ratio of over 30%, planning to distribute 1.271 billion yuan, which is 39.99% of net profit [1] Asset and Liability Overview - As of the end of 2024, total assets reached 471.991 billion yuan, a growth of 2.20% from the previous year - Loan balance was 252.240 billion yuan, increasing by 4.29% with an addition of 10.368 billion yuan - Total liabilities were 432.910 billion yuan, up 1.90% - Deposit balance was 319.205 billion yuan, with an increase of 41.87 million yuan, reflecting a growth of 1.33% [2] Revenue Structure - Interest income accounted for 71.17% of total operating income, while non-interest income made up 28.83% - Interest income for 2024 was 5.962 billion yuan, a decrease of 11.25% compared to 2023 [2] Non-Interest Income - Net fee and commission income was 308 million yuan, down 8.56% year-on-year - Investment income rose to 2.335 billion yuan, an increase of 176.52% [3] Asset Quality - Non-performing loan balance was 4.049 billion yuan, an increase of 4.74 million yuan, with a non-performing loan ratio of 1.61%, up 0.13 percentage points - Provision coverage ratio was 174.78%, down 26.97 percentage points [3] Loan Classification - The balance of special mention loans surged to 8.069 billion yuan, a year-on-year increase of 73.29% - Special mention loans accounted for 3.20% of total loans, up 1.28 percentage points from the previous year [4] Mergers and Acquisitions - The bank plans to absorb and merge multiple village banks, with a temporary shareholders' meeting scheduled to discuss the merger of Shenzhen Longhua Xinhua Village Bank [5] - Previously, the bank completed the merger of Foshan Gaoming Shunyin Village Bank, which was converted into a branch [5] Strategic Intent - The bank aims to expand its network in the Greater Bay Area by merging village banks and converting them into branches, despite not being the main initiator for several of the banks involved in the mergers [6]