Bank of Ningbo(SZ:002142) Guoxin Securities·2025-04-10 08:25Investment Rating - The investment rating for the company is "Outperform the Market" [5][9]. Core Views - The company achieved a revenue of 66.6 billion yuan in 2024, representing a year-on-year growth of 8.2%, with a slight recovery in growth rate compared to the previous quarters [1]. - The net profit attributable to shareholders for 2024 was 27.1 billion yuan, an increase of 6.2% year-on-year, although the growth rate decreased by 0.8 percentage points compared to the previous quarters [1]. - The average return on equity (ROE) for 2024 was 13.6%, down 1.5 percentage points from the previous year [1]. - The company maintained a stable net interest margin of 1.86% for the year, with a slight decrease of 2 basis points year-on-year [2]. - The total assets of the company grew by 15.3% year-on-year to 3.13 trillion yuan by the end of 2024 [1]. Financial Performance Summary - Revenue for 2024 was 66.6 billion yuan, with a growth rate of 8.2% [4]. - Net profit attributable to shareholders was 27.1 billion yuan, with a growth rate of 6.2% [4]. - The diluted earnings per share (EPS) for 2024 was 3.95 yuan, with projections for 2025 and 2026 at 4.27 yuan and 4.64 yuan respectively [4][7]. - The company’s total assets at the end of 2024 were 3.13 trillion yuan, with a year-on-year growth of 15.3% [4][7]. - The non-performing loan ratio remained stable at 0.76% at the end of the year [3][7].