Bank of Hangzhou Co. (600926) Q4 2024 earnings summary

Executive summary

• Achieved operating income of RMB 38.381 billion in 2024, up 9.61% year-over-year.

• Net profit attributable to shareholders reached RMB 16.983 billion, an 18.08% increase year-over-year.

• Total assets grew to RMB 2,112.591 billion, up 14.73% from the previous year.

• Loan and deposit balances increased by 16.16% and 21.74% respectively year-over-year.

Financial highlights

• Operating profit rose 18.25% year-over-year to RMB 19.259 billion.

• Basic EPS was RMB 2.74, up 18.61% year-over-year.

• Net assets attributable to shareholders increased 22.24% to RMB 136.048 billion.

• Weighted average ROE reached 16.00%, up 0.43 percentage points year-over-year.

Key financial ratios and metrics

• Non-performing loan (NPL) ratio remained stable at 0.76%.

• Provision coverage ratio was 541.45%, down 19.97 percentage points year-over-year.

• Loan-to-deposit ratio decreased by 0.14 percentage points to 4.11%.

• Per-share net asset value rose to RMB 18.03, up 13.40% year-over-year.