Core Insights - Ningbo Bank has reported a data resource entry amount of 6 million yuan in its 2024 annual report, marking it as the second bank in China to implement data asset accounting after CITIC Bank [1][2] - The bank achieved an operating income of 66.631 billion yuan in 2024, a year-on-year increase of 8.19%, and a net profit attributable to shareholders of 27.127 billion yuan, up 6.23% year-on-year [1] - By the end of 2024, Ningbo Bank's total assets reached 31.252 trillion yuan, a growth of 15.25% compared to the previous year, officially entering the "30 trillion club" [1] Financial Performance - The total loans and advances amounted to 14.76063 trillion yuan, reflecting a year-on-year growth of 17.83%, while total deposits reached 18.36345 trillion yuan, up 17.24% year-on-year [1] - The non-performing loan ratio stood at 0.76%, indicating a stable performance in asset quality [1] Interest Margins - The net interest margin for 2024 was 1.86%, a decrease of 2 basis points year-on-year, while the net profit margin was 1.91%, down 10 basis points year-on-year [2] - The decline in net interest margin was attributed to effective credit demand shortages, falling market interest rates, and adjustments in existing mortgage rates [2] Digital Transformation - The annual report emphasized the importance of digitalization, mentioning upgrades to systems like Kunpeng Treasury and Financial Management solutions, which aim to enhance operational efficiency and customer service [2] - In July 2023, Ningbo Bank launched its fintech brand "Ningxing Cloud," offering various financial services including fund management and foreign exchange [2] Data Asset Financing - Despite limited details on data resources in the annual report, Ningbo Bank has engaged in data asset financing, indicating a deeper involvement in data elements than presented [3] - In October 2023, a company in Deqing County secured a 10 million yuan loan from Ningbo Bank by pledging its autonomous driving simulation data as collateral [3]