Core Viewpoint - Xiamen Bank reported its 2024 annual report and 2025 Q1 report, showing a mixed performance with total assets increasing but a decline in net profit and operating income in Q1 2025 compared to the previous year [2][3]. Financial Performance - As of the end of 2024, Xiamen Bank's total assets reached 407.795 billion yuan, a 4.39% increase year-on-year; operating income was 5.759 billion yuan, up 2.79%; and total profit was 2.735 billion yuan, a 3.54% increase [2]. - For Q1 2025, the bank's operating income was 1.214 billion yuan, a decrease of 18.42% year-on-year, primarily due to tightening interbank liquidity and a reduction in net interest income [3]. Deposit and Loan Trends - By the end of 2024, corporate deposits decreased by 6.4% to 1,228.07 billion yuan, while personal deposits increased by 22.8% to 824.55 billion yuan, indicating a shift in deposit structure [4][5]. - The total loans and advances as of the end of 2024 were 205.455 billion yuan, a decrease of 2.02% from the previous year, with corporate loans increasing by 9.25% while personal loans decreased by 6.60% [11][12]. Fee and Commission Income - In 2024, fee and commission income was 5.851 billion yuan, down 12.92% from the previous year, with significant declines in various segments, particularly in wealth management, which saw a drop of 45.63% [8][10]. Risk Management and Loan Quality - The bank's liquidity ratio was 77.83% at the end of 2024, down from 81.38% in 2023, indicating a slight decline in liquidity but still within a reasonable range [16][18]. - The migration rates for normal and substandard loans increased, suggesting a deterioration in loan quality, particularly in substandard and doubtful loans [17]. Customer Base and Market Position - Xiamen Bank's wealth management customer base grew to 197,800, an increase of 12.61% year-on-year, reflecting an improvement in customer quality [18][19]. - The bank has focused on enhancing services for Taiwanese enterprises, with a 19% increase in Taiwanese corporate clients and a 21% increase in credit accounts [15].