Bank Of Jiangsu(SH:600919)2024-04-26 08:55Group 1: Investor Communication - Jiangsu Bank held an investor communication meeting on April 26, 2024, with participation from various funds and asset management companies [2][3]. Group 2: Performance Overview - In 2023, Jiangsu Bank achieved a revenue of CNY 74.293 billion, a year-on-year increase of 5.28%, and a net profit attributable to shareholders of CNY 28.750 billion, up 13.25% [6]. - For Q1 2024, the bank reported a revenue of CNY 20.999 billion, reflecting an 11.72% year-on-year growth, and a net profit of CNY 9.042 billion, which is a 10.02% increase [6]. Group 3: Loan Growth and Asset Quality - In Q1 2024, Jiangsu Bank's corporate loans increased by over CNY 150 billion, continuing to outperform the market [9]. - The non-performing loan ratio stood at 0.91% in Q1 2024, with a provision coverage ratio of 371.22%, indicating stable asset quality [11]. Group 4: Financial Management and Dividends - Jiangsu Bank's wealth management subsidiary managed over CNY 520 billion in products by the end of 2023, maintaining the top position among city commercial banks [10]. - The bank plans to propose a mid-term profit distribution at the shareholders' meeting, with a cash dividend payout ratio of 30% of net profit for 2023, resulting in an estimated dividend yield of around 6% [12].