24Q4 兴业银行业绩快报点评：利润增速由负转正，不良率环比下降

Investment Rating - The investment rating for Industrial Bank is not explicitly stated in the provided documents, but the report indicates a positive outlook on profit growth and asset quality improvements [1][4]. Core Insights - Industrial Bank reported a revenue decline of 3.1% year-on-year for Q4 2024, while the net profit attributable to the parent company increased by 16.9% year-on-year, marking a recovery from a negative growth rate of -10.4% in Q3 2024 [1][4]. - For the full year 2024, revenue growth was 0.66% year-on-year, and net profit attributable to the parent company grew by 0.12%, reversing a previous negative trend [1][4]. - The return on equity (ROE) for 2024 decreased by 0.75% to 9.98%, and earnings per share (EPS) remained unchanged at 3.51 [1][4]. - Loan growth was reported at 5.1% compared to the end of 2023, which is a decline from 9.6% year-on-year growth in the previous year. Deposit growth was 7.7%, down from 8.9% year-on-year [2][6]. - The non-performing loan (NPL) ratio decreased slightly to 1.07%, and the provision coverage ratio improved to 237.78%, reflecting better asset quality [2][6]. Summary by Sections Financial Performance - Q4 2024 revenue decreased by 3.1% YoY, while net profit attributable to the parent increased by 16.9% YoY, recovering from a -10.4% growth in Q3 2024 [1][4]. - For 2024, revenue growth was 0.66% YoY, and net profit growth was 0.12% YoY, reversing a previous negative trend [1][4]. - ROE decreased by 0.75% to 9.98%, and EPS remained at 3.51 [1][4]. Asset Quality - Loan growth was 5.1% compared to the end of 2023, down from 9.6% YoY growth [2][6]. - Deposit growth was 7.7%, a decrease from 8.9% YoY [2][6]. - NPL ratio decreased to 1.07%, and provision coverage ratio increased to 237.78% [2][6].