Bank of Jiangsu (600919) H2 2024 earnings summary

Executive summary

• Achieved stable growth with key operating indicators outperforming the broader market.

• Maintained a prudent and sound development trend, aligning with central and provincial policy directives.

Financial highlights

• Operating income reached RMB 808.15 billion, up 8.78% year-over-year.

• Net profit attributable to shareholders was RMB 318.43 billion, up 10.76% year-over-year.

• Total assets at period-end were RMB 39,518.14 billion, a 16.12% increase from the previous year.

• Customer deposits grew 12.83% and loans increased 10.67% year-over-year.

• Non-performing loan ratio remained at 0.89%; provision coverage ratio was 350.10%.

Outlook and guidance

• Preliminary financial data may differ from the audited annual report, but differences are expected to be within 10%.