Bank of Suzhou (002966) Q1 2025 earnings summary

Executive summary

• Achieved total assets of RMB 727.15 billion as of March 31, 2025, up 4.82% from year-end 2024.

• Net profit for Q1 2025 reached RMB 1.61 billion, up 6.95% year-over-year.

• Operating income was RMB 3.25 billion, a 0.76% increase compared to Q1 2024.

• Loans and advances grew 8.86% to RMB 362.89 billion; deposits rose 11.04% to RMB 463.01 billion since year-end.

• Asset quality remained stable with a non-performing loan (NPL) ratio of 0.83%.

Financial highlights

• Net profit attributable to shareholders was RMB 1.55 billion, up 6.80% year-over-year.

• Net interest income was RMB 2.11 billion, slightly down from RMB 2.12 billion in Q1 2024.

• Basic EPS was RMB 0.34, down 8.11% year-over-year; diluted EPS was RMB 0.32, up 3.23%.

• Operating cash flow was RMB 10.86 billion, down 41.25% year-over-year.

• Net assets per share stood at RMB 10.90, a 4.89% decrease from year-end.

Outlook and guidance

• Management expects continued stable growth in business scale and profitability, with asset quality and capital adequacy maintained at prudent levels.