Bank of Nanjing (601009) Q1 2025 earnings summary

Executive summary

• Achieved revenue of RMB 14.19 billion in Q1 2025, up 6.53% year-over-year; net profit attributable to shareholders reached RMB 6.11 billion, up 7.06% year-over-year.

• Total assets grew 6.71% from year-end 2024 to RMB 2.77 trillion; deposits increased 10.77% and loans rose 7.14% from year-end 2024.

• Asset quality remained stable with a non-performing loan (NPL) ratio of 0.83% and provision coverage at 323.69%.

• Cost-to-income ratio improved to 23.80%, down 4.28 percentage points from year-end.

Financial highlights

• Net interest income rose 17.80% year-over-year to RMB 7.75 billion, accounting for 54.63% of total revenue.

• Investment income increased 36.54% year-over-year to RMB 4.82 billion.

• Operating cash flow turned positive at RMB 100.70 billion, compared to negative RMB 3.65 billion in Q1 2024.

• Basic EPS was RMB 0.55, flat year-over-year; diluted EPS was RMB 0.50, up 4.17%.

• Return on average equity (ROAE) was 3.80%, down 0.19 percentage points year-over-year.

Outlook and guidance

• Focus remains on high-quality growth, deepening the five-year strategic plan, and enhancing value creation.

• Plans to further strengthen risk management, asset quality, and innovation in financial services.