QILU BANK(SH:601665) Sou Hu Cai Jing·2025-05-24 04:26Core Viewpoint - Qilu Bank has demonstrated strong performance in recent years, with significant growth in net profit and total assets, attracting investor interest despite its relatively low profile in the industry [2][3][4]. Financial Performance - In 2024, Qilu Bank achieved operating income of 12.496 billion yuan, a year-on-year growth of 4.55%, while net profit attributable to shareholders reached 4.986 billion yuan, with a remarkable year-on-year growth of 17.77%, ranking 4th among 42 A-share listed banks [4][6]. - The bank's total assets amounted to 689.539 billion yuan, reflecting a year-on-year increase of 14.01% [4][5]. - For Q1 2024, the bank's net profit growth was 16.47%, placing it 2nd among listed banks [2][6]. Stock Performance - As of May 23, 2024, Qilu Bank's stock price closed at 6.55 yuan per share, with a cumulative increase of 19.96% year-to-date, significantly outperforming the banking sector's average increase of 7.26% [2][6]. Loan Structure and Asset Quality - The bank's loan structure shows a shift towards corporate loans, which accounted for 73.23% of total loans as of Q1 2024, while personal loans decreased to 23.37% [12][13]. - The non-performing loan (NPL) ratio stood at 1.19%, with a year-on-year improvement of 0.07 percentage points, indicating a positive trend in asset quality [4][16]. - The bank's corporate NPL ratio improved from 1.51% in 2022 to 0.95% in 2024, while the personal loan NPL ratio increased from 0.96% to 2.00% during the same period, highlighting a divergence in asset quality between loan types [16][17]. Market Position and Growth Potential - Qilu Bank, established in 1996 and listed in 2021, has positioned itself as a significant player in the Shandong region, benefiting from the economic growth of the area [3][4]. - The bank's total assets and profit growth are supported by strong market demand, indicating potential for further expansion in the future [3][4].