Bank of Chengdu (601838) Q1 2025 earnings summary

Executive summary

• Achieved steady growth in scale and profitability, with total assets up 6.77% and net profit up 5.64% year-over-year for Q1 2025.

• Deposits increased 8.91% and loans grew 8.74% compared to year-end 2024, maintaining a stable business structure.

• Non-performing loan ratio remained low at 0.66%, with a high provision coverage ratio of 456.00%.

Financial highlights

• Operating income reached RMB 5.82 billion, up 3.17% year-over-year; net profit attributable to shareholders was RMB 3.01 billion, up 5.64%.

• Basic EPS was RMB 0.71, down 5.33% year-over-year; weighted average ROE was 3.70%, down 0.56 percentage points.

• Total assets stood at RMB 1.33 trillion, up 6.77% from year-end 2024; total liabilities were RMB 1.25 trillion, up 7.04%.

• Operating cash flow turned positive to RMB 64.16 billion from negative RMB 0.98 billion in Q1 2024.

• Net interest income was RMB 4.80 billion; investment income rose 31.24% year-over-year to RMB 1.07 billion.

Outlook and guidance

• Maintains focus on strategic development, improving service quality, and coordinated growth in scale, efficiency, and quality.

• Liquidity remains ample, with a liquidity coverage ratio of 183.59%.