营收利润双下降，规模被部分城商行超越——广发银行2024年财报分析

Core Viewpoint - The article discusses the financial performance and ownership structure of Guangfa Bank, highlighting its declining revenue and profit, as well as its asset quality compared to other banks in the industry [1][3][16]. Ownership Structure - Guangfa Bank's largest shareholder is China Life Insurance Co., Ltd., holding 43.69% of the shares as of the end of 2024, followed by CITIC Trust with 14.14% [1][2]. - The top ten shareholders collectively hold 90.048% of the bank's shares, indicating a concentrated ownership structure [2]. Financial Performance - As of the end of 2024, Guangfa Bank's total assets reached 3.64 trillion yuan, a year-on-year increase of 3.86%, but its operating income decreased by 0.63% to 69.237 billion yuan, and net profit attributable to shareholders fell by 4.58% to 15.284 billion yuan [3][7]. - The bank's operating income has shown a declining trend over the past five years, with net profit also decreasing in 2022 and 2024 [3][7]. Comparison with Peers - Guangfa Bank's total assets, operating income, and net profit are lower than those of several city commercial banks, including Beijing Bank and Jiangsu Bank [7][8]. - The bank ranks 9th among 12 joint-stock banks in terms of asset size, operating income, and net profit [8]. Interest Margin and Income - The net interest margin for Guangfa Bank in 2024 was 1.54%, a decrease of 6 basis points from 2023, reflecting a continuous decline over the past five years [10][12]. - Interest income fell by 2.78% year-on-year to 49.651 billion yuan, marking a significant decline of 21.00% from 2020 [10][12]. Asset Quality - As of the end of 2024, Guangfa Bank's non-performing loan (NPL) ratio was 1.53%, a slight decrease of 5 basis points from the previous year, but still higher than the 1.41% recorded in 2021 [16][18]. - The bank's provision coverage ratio for non-performing loans was 165.58%, indicating relative stability in asset quality [16][18]. - The bank faces significant asset quality pressures, with a high proportion of loans under special attention and overdue loans compared to the NPL ratio [21][24].