Core Viewpoint - The financial performance of four major city commercial banks in the Yangtze River Delta—Jiangsu Bank, Shanghai Bank, Ningbo Bank, and Nanjing Bank—has shown varying strengths, with Jiangsu Bank maintaining its leading position while the others have demonstrated notable growth in specific areas [1][2]. Group 1: Financial Performance Overview - As of the end of Q1, Jiangsu Bank leads in total assets at 4.46 trillion yuan, followed by Ningbo Bank at 3.40 trillion yuan, Shanghai Bank at 3.27 trillion yuan, and Nanjing Bank at 2.77 trillion yuan [1]. - For 2024, Jiangsu Bank reported the highest revenue at 808.15 billion yuan, with Ningbo Bank at 666.31 billion yuan, and both Shanghai and Nanjing Banks in the 500 billion yuan range [1]. - Nanjing Bank exhibited the highest revenue growth rate at 11.32%, while Jiangsu and Ningbo Banks maintained over 8% growth [1]. Group 2: Q1 Revenue and Profit Analysis - In Q1, revenue rankings shifted, with Jiangsu Bank at 223.04 billion yuan, Ningbo Bank at 184.95 billion yuan, Nanjing Bank at 141.90 billion yuan, and Shanghai Bank at 135.97 billion yuan [2]. - Jiangsu Bank's net profit for the previous year was the highest at 333.06 billion yuan, with a year-on-year growth of 10.97% [2]. - In Q1, Jiangsu Bank's net profit surpassed 100 billion yuan, reaching 100.92 billion yuan, followed by Ningbo Bank at 74.56 billion yuan [2]. Group 3: Revenue Sources and Trends - The three main revenue sources for banks—net interest income, net fee and commission income, and net investment income—are under pressure due to declining interest rates and changing wealth management demands [3]. - Ningbo Bank showed a significant increase in net interest income growth, with a 2024 growth rate of 17.32%, while Jiangsu Bank's growth was 6.29% [3]. - Jiangsu Bank's net interest income as a percentage of revenue is 69.24%, while Ningbo Bank leads at 72.03% [4]. Group 4: Fee and Commission Income - Jiangsu Bank is the only bank showing a positive growth trend in fee and commission income for 2024, with a growth rate of 3.29% [4]. - Other banks, including Ningbo and Shanghai Banks, experienced declines in fee income, although the rate of decline has slowed [5]. Group 5: Investment Income Insights - Investment income for Jiangsu and Ningbo Banks saw a significant decrease compared to the previous year, with Jiangsu Bank's investment income rising slightly to 22.78% of revenue [6]. - In Q1, Nanjing Bank's fee and commission income surged by 18.001%, becoming the highest among the four banks [7]. Group 6: Net Interest Margin and Cost of Liabilities - As of Q1, Jiangsu Bank had the highest net interest margin at 1.82%, while Shanghai Bank had the lowest at 1.16% [8]. - The banks are facing challenges with narrowing interest margins due to declining benchmark rates and rising liability costs [8][9]. Group 7: Loan Growth and Strategy - Jiangsu and Ningbo Banks increased corporate loan growth significantly, with growth rates of 28.59% and 24.13%, respectively [9]. - Nanjing Bank has also focused on increasing high-interest personal loans, achieving significant growth in consumer loans [10].