Chongqing Rural Commercial Bank (3618) Q1 2025 earnings summary

Executive summary

• Reported unaudited results for Q1 2025, prepared under IFRS, with the board confirming accuracy and completeness of disclosures.

• Profit before tax reached RMB4.239 billion, up 11.86% year-over-year; net profit was RMB3.817 billion, up 4.24% year-over-year.

• Net profit attributable to shareholders rose 6.25% year-over-year to RMB3.745 billion.

Financial highlights

• Operating income for Q1 2025 was RMB7.223 billion, up 1.37% year-over-year.

• Net interest income increased 5.31% year-over-year to RMB5.812 billion; net fee and commission income was RMB507 million.

• Cost-to-income ratio improved to 25.47%, down 1.75 percentage points year-over-year.

• Credit impairment losses decreased 19.17% year-over-year to RMB1.078 billion.

• Net cash flows from operating activities dropped 67.71% year-over-year to RMB22.57 billion, mainly due to higher cash outflows for central bank balances and trading assets.

Outlook and guidance

• Efficiency improvements and cost reduction initiatives contributed to a lower cost-to-income ratio.