苏州银行：利润增速保持10%以上，资产质量稳定优异

Investment Rating - The report maintains a "Buy" rating for Suzhou Bank [5] Core Views - Suzhou Bank's revenue for the first three quarters reached 9.3 billion, a year-on-year increase of 1.1%, while net profit attributable to shareholders was 4.2 billion, up 11.1% year-on-year, with a non-performing loan ratio of 0.84%, remaining stable compared to the previous quarter [1][2] - The bank's asset quality remains strong, with a non-performing loan generation rate of 0.49% in Q3, which is still at a low level despite a slight increase from the previous half [2] - The bank's total assets reached 677.2 billion by the end of September, a 12.5% increase from the beginning of the year, with loans growing by 12.6% [3] Financial Performance - Interest income decreased by 6.5% year-on-year, while non-interest income saw a decline of 16.3% in fees, but other non-interest income increased by 41.3% [1] - The bank's net interest margin decreased by 7 basis points to 1.41% [1] - The bank's provision coverage ratio decreased by 13 percentage points to 474% by the end of September [2] Asset and Liability Management - By the end of September, deposits reached 417.8 billion, a 14.8% increase from the beginning of the year, with personal deposits growing by 4.6 billion [3] - The bank's loan balance was 330.3 billion, with a significant increase in corporate loans [3] Future Outlook - The report suggests that Suzhou Bank, as a quality regional city commercial bank, is expected to continue its rapid and high-quality development in the medium to long term, supported by its strong asset quality and leading profit growth [3]