BANK OF CHANGSHA(SH:601577) 数说者·2025-08-17 23:37Core Viewpoint - The article provides a comparative analysis of Hunan Bank and Changsha Bank, highlighting their differences in ownership structure, financial performance, and operational scale. Group 1: Background and Ownership - Hunan Bank was established in 2010 from the merger of several banks and credit cooperatives, with Hunan Financial Holdings becoming the largest shareholder after a series of ownership changes [3][4]. - Changsha Bank originated from 14 urban credit cooperatives in 1997 and has undergone several name changes, with the Changsha Municipal Finance Bureau being its largest shareholder [5][6]. Group 2: Capital Market Presence - Hunan Bank has not yet entered the capital market and remains unlisted [8]. - In contrast, Changsha Bank was listed on the Shanghai Stock Exchange in 2018, with the stock code 601577.SH [9]. Group 3: Operational Scope - Hunan Bank operates exclusively within Hunan Province, with 224 branches as of the end of 2024 [10]. - Changsha Bank has a broader operational footprint, with 411 branches, including one in Guangzhou, while generating 65.76% of its revenue from Changsha [10][11]. Group 4: Financial Performance - As of 2024, Hunan Bank's total assets were 565.34 billion, while Changsha Bank's total assets exceeded 1 trillion, indicating a significant scale difference [14]. - Changsha Bank's operating income was 259.36 billion, compared to Hunan Bank's 114.02 billion, with net profit figures showing a similar disparity [14]. - Hunan Bank's net interest margin was 1.63%, significantly lower than Changsha Bank's 2.11% [16][26]. Group 5: Asset Quality - Changsha Bank consistently maintains a lower non-performing loan (NPL) ratio, recorded at 1.17% in 2024, compared to Hunan Bank's 1.65% [16][28]. - The provision coverage ratio for Changsha Bank was 312.80%, indicating stronger asset quality management compared to Hunan Bank's 176.19% [14][33]. Group 6: Employee Compensation - In 2024, Changsha Bank's total employee compensation was 4.327 billion, significantly higher than Hunan Bank's 1.816 billion, reflecting a more competitive salary structure [37]. - The average salary for employees at Changsha Bank was 442,500, compared to Hunan Bank's 369,800 [37]. Group 7: Long-term Trends - Over the past decade, Changsha Bank's total assets have consistently outpaced Hunan Bank's, with the asset ratio increasing from 1.35 times to 2.03 times [17]. - Revenue and profit growth for Changsha Bank has also been more robust, with operating income and net profit ratios expanding significantly compared to Hunan Bank [19][22]. Group 8: Business Structure - Changsha Bank's revenue is primarily driven by net interest income, maintaining around 80% of total income, while Hunan Bank's reliance on interest income has fluctuated, dropping to 71.52% in 2024 [23][25]. - Hunan Bank's loan-to-asset ratio is higher, but its lower net interest margin indicates less efficiency in generating income from its loan portfolio [29][27]. Group 9: Conclusion - Overall, Changsha Bank has established itself as a larger, more efficient, and higher-quality institution compared to Hunan Bank, despite Hunan Bank's higher administrative level [7][39][40].