Bank of Beijing (601169) Q3 2024 earnings summary

Executive summary

• Total assets reached RMB 4,027.33 billion as of September 30, 2024, up 7.43% from year-end 2023, with steady business scale growth.

• Operating income for the first nine months was RMB 51.76 billion, up 4.06% year-over-year; net profit attributable to shareholders was RMB 20.62 billion, up 1.90%.

• The bank focused on optimizing credit asset structure, expanding in technology, green, inclusive, and specialized sectors.

Financial highlights

• Operating income for Q3 2024 was RMB 16.22 billion, down 0.67% compared to Q3 2023.

• Net profit attributable to shareholders for Q3 2024 was RMB 6.04 billion, up 0.73% year-over-year.

• Basic and diluted EPS for the first nine months was RMB 0.95, up 2.15% year-over-year.

• Cash flow from operating activities for the first nine months was RMB 73.26 billion, up 589.10% year-over-year, mainly due to increased deposits and interbank placements.

• Non-performing loan ratio was 1.31%, down 0.01 percentage points from year-end 2023.

Outlook and guidance

• The bank will continue to focus on national strategies, capital development, and regulatory guidance, emphasizing innovation and risk management.

• Plans to further strengthen digitalization, risk control, and support for key sectors such as technology, green finance, and inclusive finance.