Bank of Jiangsu (600919) Q3 2024 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 2024 was RMB 9.50 billion, up 10.08% year-over-year.

• Operating income for Q3 reached RMB 20.68 billion, a 4.25% increase compared to the same quarter last year.

• Total assets as of September 30, 2024, stood at RMB 3.86 trillion, up 13.32% from year-end 2023.

Financial highlights

• Net profit for the first nine months was RMB 28.23 billion, up 10.06% year-over-year.

• Operating income for the first nine months was RMB 62.30 billion, up 6.18% year-over-year.

• Basic and diluted EPS for the first nine months were both RMB 1.50.

• Net cash flow from operating activities for the first nine months was -RMB 4.11 billion, a significant decrease from the previous year.

• Total equity attributable to shareholders increased to RMB 302.46 billion, up 20.78% from year-end 2023.

Outlook and guidance

• The bank continues to focus on asset growth and risk management, with capital adequacy and liquidity ratios remaining robust.