Bank of Suzhou (002966) Q3 2024 earnings summary

Executive summary

• Achieved steady business growth with total assets reaching ¥677.18 billion, up 12.52% from year-end 2023.

• Net profit attributable to shareholders for Jan–Sep 2024 was ¥4.18 billion, up 11.09% year-over-year.

• Operating income for Jan–Sep 2024 was ¥9.29 billion, a 1.10% increase year-over-year.

• Maintained robust asset quality with a non-performing loan (NPL) ratio of 0.84%.

Financial highlights

• Net profit for Q3 2024 was ¥1.23 billion, up 8.73% compared to Q3 2023.

• Basic EPS for Jan–Sep 2024 was ¥1.08, up 9.09% year-over-year.

• Net cash flow from operating activities for Jan–Sep 2024 was ¥24.20 billion.

• Total loans and advances reached ¥317.83 billion, up 13.05% from year-end 2023.

• Customer deposits increased 14.76% to ¥427.40 billion since year-end 2023.

Outlook and guidance

• All regulatory capital and liquidity ratios remain above required thresholds, supporting future growth.

• Management expects continued stable performance and prudent risk management.