Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 266.5 billion yuan at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 154.5 billion yuan after 112 billion yuan of reverse repos matured [1] - The Shanghai Interbank Offered Rate (Shibor) for overnight loans increased by 3.80 basis points to 1.4360%, while the 7-day Shibor rose by 1.80 basis points to 1.4830%, and the 14-day Shibor increased by 3.20 basis points to 1.5370% [2][3] Group 2 - In the interbank pledged repo market, various rates saw slight increases, with the 7-day and 14-day rates both surpassing 1.5%. The weighted average rates for DR001 and R001 rose by 4.7 basis points and 6.5 basis points, respectively, while transaction volumes decreased significantly [4] - The money market maintained a tense liquidity situation, with overnight rates stabilizing around 1.55% and 7-day rates between 1.53% and 1.55% after the central bank's operations [9] Group 3 - Agricultural Bank successfully issued a floating-rate green financial bond in the interbank market with a scale of 6 billion yuan and a term of 3 years at an interest rate of 1.80%. This bond is the first in the market linked to the central bank's reverse repo rate [12]

Core Viewpoint - Leshan Commercial Bank plans to issue a total of 30 billion RMB in interbank certificates of deposit for the year 2025, highlighting its growth strategy and financial stability [1] Financial Data - As of December 2024, Leshan Commercial Bank's total assets reached 202.39 billion RMB, an increase of 21.62 billion RMB from the beginning of the year, representing a year-on-year growth of 11.96% [2] - The bank's deposit balance was 139.92 billion RMB, up by 11.03 billion RMB, with a year-on-year growth of 8.56% [2] - Loan balances stood at 115.61 billion RMB, increasing by 6.73 billion RMB, with a year-on-year growth of 6.18% [2] - From 2022 to 2024, the bank's total assets grew at a compound annual growth rate (CAGR) of 11.5%, deposits at 10.8%, and loans at 21.6% [2] Profitability - In 2024, Leshan Commercial Bank achieved an operating income of 4.217 billion RMB, a year-on-year increase of 21.1%, and a net profit of 818 million RMB, up 33.9% [3] - The bank's net interest margin decreased to 2.06% in 2024 from 2.09% in 2022, indicating potential pressure on profitability due to market interest rate fluctuations and rising funding costs [3] Risk Management - The non-performing loan (NPL) ratio for 2024 was 1.48%, down from 1.53% in 2023, and significantly lower than the industry average of approximately 1.8% [4] - The bank's provision coverage ratio improved to 220.30% in 2024 from 194.56% in 2023, indicating enhanced risk management capabilities [4] Shareholder Structure - As of December 31, 2024, Leshan Commercial Bank's registered capital was 4.83 billion RMB, with the top ten shareholders holding a combined 72.85% stake [5] - The largest shareholder, Leshan State-owned Assets Investment Operation Group Co., Ltd., holds 14.38% of the shares [5]