Bank of Chengdu (601838) H2 2024 earnings summary

Executive summary

• Achieved operating income of RMB 22.98 billion in 2024, up 5.88% year-over-year.

• Net profit attributable to shareholders reached RMB 12.86 billion, a 10.21% increase year-over-year.

• Total assets at year-end were RMB 1,250.08 billion, up 14.56% from the start of the year.

Financial highlights

• Operating profit rose 9.54% year-over-year to RMB 15.23 billion.

• Basic earnings per share increased 8.97% to RMB 3.28.

• Net assets attributable to ordinary shareholders grew 22.40% to RMB 79.85 billion.

• Non-performing loan ratio improved to 0.66%, down 0.02 percentage points from the start of the year.

• Provision coverage ratio decreased by 25.01 percentage points to 479.28%.

Key financial ratios and metrics

• Weighted average return on equity was 17.80%, down 0.98 percentage points year-over-year.

• Net assets per share for ordinary shareholders rose 11.99% to RMB 19.15.