Bank of Ningbo (002142) Q1 2025 earnings summary

Executive summary

• Net profit attributable to shareholders reached RMB 7.42 billion, up 5.76% year-over-year for Q1 2025.

• Operating income was RMB 18.50 billion, a 5.63% increase compared to the same quarter last year.

• Total assets grew to RMB 3.40 trillion, up 8.67% from year-end 2024.

• Loans and advances increased by 11.12% to RMB 1.64 trillion; customer deposits rose 18.86% to RMB 2.18 trillion since year-end.

• Asset quality remained strong with a non-performing loan (NPL) ratio of 0.76% and provision coverage at 370.54%.

Financial highlights

• Basic and diluted EPS were RMB 1.12, up 5.66% year-over-year.

• Net cash flow from operating activities was RMB 93.06 billion, down 2.50% year-over-year.

• Annualized ROE was 14.18%, down 1.33 percentage points from the prior year.

• Annualized ROA was 0.91%, slightly lower than 0.93% a year ago.

• Cost-to-income ratio improved to 29.07% from 35.52% at year-end 2024.

Outlook and guidance

• Management remains focused on differentiated strategy and digital transformation to sustain growth amid a challenging macro and competitive environment.

• Asset quality and risk management will continue to be prioritized to maintain industry-leading NPL and provision coverage ratios.