Bank of Suzhou (002966) H2 2024 earnings summary

Executive summary

• Achieved strong growth in 2024 with total assets reaching RMB 6,938.04 billion, up 15.28% year-over-year.

• Net profit attributable to shareholders rose 10.15% year-over-year to RMB 50.68 billion.

• Maintained a positive operational trend under new three-year strategic plan and core values.

Financial highlights

• Operating income increased 3.01% year-over-year to RMB 122.23 billion.

• Operating profit rose 11.29% year-over-year to RMB 63.89 billion.

• Net profit attributable to shareholders (excluding non-recurring items) grew 12.58% year-over-year to RMB 50.40 billion.

• Basic EPS reached RMB 1.31, up 7.38% year-over-year.

Outlook and guidance

• Continued focus on stability, refinement, craftsmanship, and innovation to drive future growth.