Bank of Chengdu(SH:601838) 数说者·2025-05-11 14:15Core Viewpoint - Chengdu Bank has shown significant growth in total assets and profitability, positioning itself as a leading city commercial bank in China, with a focus on maintaining high asset quality and low non-performing loan ratios [1][2][4][15]. Group 1: Growth and Scale - As of the end of 2024, Chengdu Bank's total assets reached 1.25 trillion yuan, marking a 14.56% increase from the end of 2023, ranking it seventh among city commercial banks listed on A-shares [2]. - The bank's operating income for 2024 was 229.82 billion yuan, reflecting a year-on-year growth of 5.89%, while the net profit attributable to shareholders was 128.58 billion yuan, up 10.17% year-on-year [4][6]. Group 2: Profitability and Income Sources - Chengdu Bank's net interest margin stood at 1.66% in 2024, a decrease of 15 basis points from the previous year, placing it at a medium level among city commercial banks [11]. - Despite the decline in net interest margin, net interest income reached 184.61 billion yuan, a 4.57% increase year-on-year, accounting for over 80% of the bank's operating income [10][14]. - Investment net income was 36.24 billion yuan, growing by 14.18% year-on-year, contributing 15.77% to the total operating income [14]. Group 3: Asset Quality - Chengdu Bank maintained a non-performing loan ratio of only 0.66% at the end of 2024, a decrease of 2 basis points from the previous year, making it one of the banks with the lowest non-performing loan ratios in the A-share market [15][17]. - The bank's non-performing loan coverage ratio was 479.29%, indicating strong asset quality, although it did not retain the top position among A-share listed banks [15]. - The non-performing loan ratio for corporate loans was 0.63%, while personal loans had a slightly higher ratio of 0.78%, both remaining at acceptable levels [18].