Core Points - Jinshan Bank reported a net profit of 1.75 billion yuan for 2024, a decrease of 12.6% year-on-year, marking the first decline in net profit since its listing in 2019 [4][5] - In Q1 2025, Jinshan Bank's operating income was 1.11 billion yuan, down 14.4% year-on-year, with a net profit of 470 million yuan, a decrease of 11.4% [2][4] - The bank's total assets as of December 31, 2024, were 376.31 billion yuan, an increase of 4.2% from the previous year, with net loans and advances amounting to 195.10 billion yuan, up 5.1% [5][6] Financial Performance - For 2024, Jinshan Bank's operating income was 5.79 billion yuan, a slight decrease of 0.2% compared to 2023 [4][5] - The bank's total liabilities increased by 3.5% to 348.28 billion yuan, with customer deposits rising by 7.7% to 310.33 billion yuan [5][6] Loan Quality and Risks - As of December 31, 2024, the non-performing loan (NPL) rate for Jinshan Bank was 1.77%, a slight decrease from 1.78% in the previous year, with total NPLs amounting to 3.57 billion yuan [7][8] - The NPL rate for manufacturing loans surged to 2.83% by the end of 2024, with the amount of non-performing loans in this sector increasing from 328 million yuan to 1.13 billion yuan [8][9] - The rise in NPLs is attributed to defaults from certain coal mining and coking enterprises due to market changes and poor internal management [9][10]
晋商银行首季去年净利降幅均达两位数 制造业不良率升