Bank of Ningbo (002142) Q4 2024 earnings summary

Executive summary

• Achieved annual operating income of RMB 66.632 billion, up 8.20% year-over-year.

• Net profit attributable to shareholders reached RMB 27.127 billion, a 6.23% increase year-over-year.

• Total assets grew to RMB 3,125.166 billion, up 15.25% from the previous year-end.

Financial highlights

• Operating profit rose 12.56% year-over-year to RMB 31.549 billion.

• Total profit increased 12.15% year-over-year to RMB 31.287 billion.

• Basic EPS was RMB 3.95, up 5.33% year-over-year.

• Net assets per share attributable to shareholders rose 15.85% to RMB 35.30.

Outlook and guidance

• Management reported smooth business progress and overall sound operations throughout the year.