China Zheshang Bank (2016) Q3 2024 earnings summary

Executive summary

• Total assets reached RMB3,276.19 billion as of September 30, 2024, up 4.21% from year-end 2023, with loans and advances up 6.41% and customer deposits up 2.43%.

• Operating income for January–September 2024 was RMB52.52 billion, up 5.63% year-over-year; net profit attributable to shareholders rose 1.19% to RMB12.91 billion.

• Net interest income declined 1.01% year-over-year, while net non-interest income surged 22.96%, now comprising 32.24% of operating income.

• Asset quality remained stable with a non-performing loan ratio of 1.43%, down 0.01 percentage point from year-end 2023.

Financial highlights

• Net assets per share increased 5.62% to RMB6.20 compared to year-end 2023.

• Basic and diluted EPS for the nine months were RMB0.47, down 11.32% year-over-year.

• Net cash used in operating activities was RMB-84.76 billion, a 462.68% increase in outflow, mainly due to slower deposit growth.

Outlook and guidance

• The business scale is expected to continue stable growth, with ongoing focus on improving operational quality and efficiency.