Investment Rating - The report maintains a "Recommend" rating for Bank of Beijing (601169 SH) [4][9] Core Views - Bank of Beijing's performance in 2024 Q3 was in line with expectations, with steady growth in net profit and continued progress in retail transformation [2][5] - The bank's asset quality remained stable, with NPL ratio flat at 1 31% and provision coverage ratio rising to 210% [9] - Retail transformation is advancing, with private banking customers reaching 16 800, up 19 9% YoY, and private banking AUM growing 12 4% to 190 2 billion yuan [9] Financial Performance - In 2024 Q3, Bank of Beijing achieved operating income of 51 8 billion yuan, up 4 1% YoY, and net profit of 20 6 billion yuan, up 1 9% YoY [5] - Net interest income grew 2 7% YoY to 38 6 billion yuan, while fee and commission income fell 16 7% due to weak demand [6] - The bank's total assets reached 4 03 trillion yuan, with loans and deposits at 2 17 trillion yuan and 2 37 trillion yuan respectively [5] Asset Quality and Profitability - NIM improved by 1bp QoQ to 1 35% in Q3 2024, supported by lower funding costs [7] - ROE was 10 41% annualized, with EPS forecast at 1 27/1 34/1 42 yuan for 2024-2026 [9] - The bank's cost-to-income ratio stood at 27 78% in Q3 2024 [10] Retail Transformation Progress - Retail loans accounted for 33% of total loans, while corporate loans made up 60% [10] - The contribution rate of net new AUM from VIP and private banking customers reached 88% [9] - The bank's deposit structure improved, with current deposits accounting for 34% of total deposits [10] Valuation and Outlook - The bank's 2024-2026 P B ratios are 0 45x 0 41x 0 38x, indicating sufficient valuation margin of safety [9] - EPS growth is projected at 4 6% 5 4% 6 5% for 2024-2026 [9] - The report expects continued improvement in performance as historical risks are cleared and economic recovery boosts demand [9]

证券代码：601169 证券简称：北京银行 公告编号：2024-050 重要内容提示： 一、关联交易概述 北京银行股份有限公司（以下简称"本行"）总行信用审批委员会 2024 年 9 月 27 日审议通过北银消费金融有限公司（以下简称"北银 消费"）的授信方案，同意授予北银消费同业机构综合授信额度人民 币 100 亿元（其中流动性支持专项额度 70 亿元），具体业务品种由总 行信用审批委员会核定，额度有效期 1 年，经董事会审批通过后，自 信用审批委员会审批意见表生效之日起生效。 与北银消费金融有限公司关联交易事项的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 北银消费为本行国家金融监督管理总局定义的关联方，与其进行 的交易构成本行的关联交易。本行授予北银消费同业机构综合授信额 度人民币 100 亿元，超过本行最近一期经审计资本净额的 1％，根据 本行拟授予北银消费金融有限公司同业机构综合授信额度人 民币 100 亿元 本次交易构成关联交易 本次交易已经本行董事会二〇二四年第八次会议审批通过， 不需要经过股东大会 ...

证券代码：601169 证券简称：北京银行 公告编号：2024-049 北京银行股份有限公司监事会决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 北京银行股份有限公司（以下简称"本行"）监事会二〇二四年第 八次会议于 2024 年 10 月 30 日在北京召开，采用现场表决方式。会 议通知和材料已于 2024 年 10 月 18 日以电子邮件方式发出。本次监 事会应到监事 8 名，实际到会监事 8 名。全体监事推举曾颖监事主持 会议。 2.北京银行股份有限公司 2024 年第三季度报告的内容和格式符 合中国证监会和证券交易所的各项规定，报告内容真实、准确、完整 地反映出公司当期的经营管理和财务状况等事项； 3.在本次监事会之前，未发现参与三季报编制和审议的人员有违 反保密规定的行为。 表决结果：8 票赞成，0 票反对，0 票弃权。 二、通过《关于<2024 年度中期利润分配预案>的议案》，同意提 请股东大会审议。本次利润分配方案如下：本行拟向全体股东每股派 发现金红利人民币 0.12 元（含税）。截至 2024 ...

证券代码：601169 证券简称：北京银行 公告编号：2024-051 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 北京银行股份有限公司 2024 年度中期利润分配预案公告 分配比例：每股派发现金红利 0.12 元（含税） 本次利润分配以实施分红派息股权登记日登记的本行普通股总股 本为基数，具体股权登记日期将在分红派息实施公告中明确 本次利润分配预案尚待本行 2024 年第三次临时股东大会审议通 过后方可实施 2024 年半年度，本行不实施资本公积金转增股本。 本次利润分配方案尚需提交股东大会审议。 二、履行的决策程序 （一）董事会会议的召开、审议和表决情况 本行于 2024 年 10 月 30 日召开董事会，审议通过《关于<2024 年度中期利润分配预案>的议案》，同意提请本行 2024 年第三次临时 股东大会审议。本方案符合本行章程规定的利润分配政策。 重要内容提示： 一、利润分配方案内容 经毕马威华振会计师事务所（特殊普通合伙）审阅，2024 年上 半年北京银行股份有限公司（以下简称"本行"）合并报表口径归属 ...

Financial Performance - Revenue for the third quarter was RMB 16,215 million, a decrease of 0.67% year-over-year[2] - Net profit attributable to shareholders of the parent company was RMB 6,039 million, an increase of 0.73% year-over-year[2] - Basic earnings per share were RMB 0.29, an increase of 3.57% year-over-year[2] - Weighted average return on equity (ROE) decreased by 0.69 percentage points to 9.19%[2] - Revenue for the first nine months of 2024 was 51.759 billion yuan, a year-on-year increase of 4.06%, with net profit attributable to parent company shareholders at 20.618 billion yuan, up 1.90%[18] - Net interest income for the first nine months of 2024 was RMB 38,556 million, up from RMB 37,545 million in the same period of 2023[42] - Net profit attributable to shareholders of the parent company was RMB 20,618 million for the first nine months of 2024, compared to RMB 20,233 million in the same period of 2023[42] - Basic earnings per share for the first nine months of 2024 were RMB 0.95, up from RMB 0.93 in the same period of 2023[43] - Other comprehensive income after tax attributable to shareholders of the parent company was RMB 3,511 million for the first nine months of 2024, compared to RMB 1,657 million in the same period of 2023[43] - Total comprehensive income attributable to shareholders of the parent company was RMB 24,129 million for the first nine months of 2024, up from RMB 21,890 million in the same period of 2023[43] - Total operating income reached RMB 50,104 million in the first nine months of 2024, up from RMB 48,138 million in the same period of 2023[50] - Net interest income increased to RMB 37,267 million in the first nine months of 2024, compared to RMB 36,321 million in the same period of 2023[50] - Net profit rose to RMB 20,097 million in the first nine months of 2024, up from RMB 19,700 million in the same period of 2023[50] - Comprehensive income for the first three quarters of 2024 totaled 23,587 million RMB, an increase from 21,357 million RMB in the same period of 2023[51] Asset and Liability Management - Total assets reached RMB 4,027,327 million, an increase of 7.43% compared to the end of the previous year[3] - Total assets reached 4,027.327 billion yuan, an increase of 7.43% compared to the beginning of the year, while total liabilities amounted to 3,672.244 billion yuan, up 7.36%[18] - Total assets increased to RMB 4,027,327 million as of September 30, 2024, compared to RMB 3,748,679 million at the end of 2023[40] - Total liabilities increased to RMB 3,672,244 million as of September 30, 2024, compared to RMB 3,420,447 million at the end of 2023[41] - Total assets increased to RMB 3,701,507 million as of September 30, 2024, up from RMB 3,376,561 million at the end of 2023[47] - Total liabilities rose to RMB 3,618,173 million as of September 30, 2024, compared to RMB 3,376,561 million at the end of 2023[48] Loan and Deposit Performance - The company's loan principal balance was 2,170.482 billion yuan, an increase of 7.69% from the beginning of the year, accounting for 53.89% of total assets[18] - Deposit principal balance reached 2,371.743 billion yuan, a 14.59% increase from the beginning of the year, accounting for 64.59% of total liabilities[19] - Loans and advances grew to RMB 2,118,074 million, up from RMB 1,964,791 million at the end of 2023[40] - Deposits increased to RMB 2,406,030 million, compared to RMB 2,101,031 million at the end of 2023[41] - Savings deposit scale exceeded 700 billion yuan, reaching 708.997 billion yuan, a 9.6% increase from the beginning of the year, with core deposits growing by 18.37%[22] - The company's RMB corporate deposits reached 16,209 billion yuan, a 13.71% increase from the beginning of the year, with core deposits growing by 722 billion yuan[30] - RMB corporate loans (excluding discounts) exceeded 1.2 trillion yuan, reaching 12,303 billion yuan, a 10.52% increase from the beginning of the year[30] Risk Management - Non-performing loan ratio decreased by 0.01 percentage points to 1.31%[3] - Provision coverage ratio decreased by 7.05 percentage points to 209.73%[3] - The non-performing loan ratio was 1.31%, a decrease of 0.01 percentage points from the beginning of the year[20] - The core tier 1 capital adequacy ratio of Beijing Bank was 9.11% as of September 30, 2024, compared to 9.21% at the end of 2023[14] - The total risk-weighted assets of Beijing Bank increased to 2,821,713 million RMB as of September 30, 2024, up from 2,619,504 million RMB at the end of 2023[14] - The leverage ratio of Beijing Bank was 7.36% as of September 30, 2024, compared to 7.15% at the end of 2023[15] - The adjusted on- and off-balance sheet assets of Beijing Bank reached 4,688,440 million RMB as of September 30, 2024, up from 4,466,233 million RMB at the end of 2023[15] Shareholder and Ownership Structure - ING Bank N.V. remains the largest shareholder with a 13.03% stake[6] - The top 10 shareholders collectively hold approximately 48.75% of the company's shares[6][7] - Beijing LianDong Investment (Group) Co., Ltd. held 327,752,780 shares at the beginning of the period, accounting for 1.55% of the total shares, and increased to 327,952,780 shares by the end of the period, maintaining the same percentage[8] - China Ping An Property Insurance Co., Ltd. held 13,800,000 preferred shares, representing 28.16% of the total preferred shares[10] Cash Flow and Liquidity - Net cash flow from operating activities increased by 589.10% year-to-date[5] - The company's liquidity coverage ratio stood at 141.33%, with qualified high-quality liquid assets totaling 479.1239 billion yuan[16] - Net cash flow from operating activities increased to RMB 7,325.8 million in the first nine months of 2024, up from RMB 1,063.1 million in the same period of 2023[45] - Total cash inflows from operating activities reached RMB 36,219.6 million in the first nine months of 2024, compared to RMB 32,857.7 million in the same period of 2023[45] - Net cash used in investing activities decreased to RMB 4,229.3 million in the first nine months of 2024, down from RMB 9,468.7 million in the same period of 2023[46] - Total cash inflows from investing activities surged to RMB 54,692.6 million in the first nine months of 2024, up from RMB 21,344.3 million in the same period of 2023[46] - Net cash flow from financing activities was RMB 1,894.2 million in the first nine months of 2024, compared to RMB 3,282.0 million in the same period of 2023[46] - Net cash flow from operating activities for the first three quarters of 2024 was 69,300 million RMB, a significant increase from 6,713 million RMB in the same period of 2023[52] - Cash inflows from investment activities for the first three quarters of 2024 were 546,523 million RMB, compared to 213,438 million RMB in the same period of 2023[53] - Cash outflows from investment activities for the first three quarters of 2024 were 584,772 million RMB, compared to 308,092 million RMB in the same period of 2023[53] - Net cash flow from financing activities for the first three quarters of 2024 was 18,974 million RMB, a decrease from 34,048 million RMB in the same period of 2023[53] - The company's cash and cash equivalents at the end of the third quarter of 2024 were 365,822 million RMB, an increase from 295,440 million RMB at the end of the same period in 2023[53] - The company's cash inflows from deposits and interbank placements increased to 210,192 million RMB in the first three quarters of 2024, compared to 164,245 million RMB in the same period of 2023[52] - The company's cash outflows for loan and advance disbursements were 158,359 million RMB in the first three quarters of 2024, a decrease from 192,400 million RMB in the same period of 2023[52] Business Growth and Customer Metrics - Retail customers surpassed 30 million, with AUM balance reaching 1,177.686 billion yuan, a year-on-year increase of over 162.5 billion yuan, or 16.01%[22] - Private banking clients reached 16,768, an increase of 2,784 from the beginning of the year, a growth rate of 19.9%, with private banking AUM at 190.2 billion yuan, up 21 billion yuan or 12.4%[22] - Private banking agency business grew steadily with a 9.91% increase in scale compared to the beginning of the year and a 7.61% year-on-year growth in sales volume for the first three quarters[27] - The issuance of linked products increased by 244.48% year-on-year, driving a 155.19% growth in custody scale compared to the beginning of the year[27] - The company served over 1.7 million "specialized, refined, and innovative" customers, a 38.40% increase from the beginning of the year[32] - The company's effective corporate customers reached 287,100 by the end of the reporting period[31] - The company's cooperation rate with Beijing municipal state-owned enterprises and their subsidiaries increased by 4.42 percentage points from the beginning of the year[31] - "Tong e Rong" has over 27,000 active application customers, accounting for nearly 80% of corporate online business applications[33] Specialized Financial Services - Technology finance, green finance, inclusive finance, and cultural finance loans grew by 32.97%, 31.35%, 20.92%, and 30.81% respectively from the beginning of the year[30] - The company's technology finance loan balance reached 3,447.09 billion yuan, a 32.97% increase from the beginning of the year[32] - The company's green loan balance reached 2,047.68 billion yuan, a 31.35% increase from the beginning of the year[32] - The balance of inclusive small and micro loans reached 288.07 billion yuan, an increase of 49.84 billion yuan from the beginning of the year, with a growth rate of 20.92%[33] - The balance of cultural financial loans reached 115.25 billion yuan, an increase of 27.15 billion yuan from the beginning of the year, with a growth rate of 30.81%[33] - The scale of large supply chain financial services exceeded 1 trillion yuan, a year-on-year increase of 71%[34] Capital Markets and Investment Activities - The total bond underwriting scale reached 265.88 billion yuan, ranking 8th in the market and 1st among city commercial banks[35] - The scale of science and innovation notes reached 27.55 billion yuan, leading among city commercial banks and ranking 5th in the market[35] - The scale of financial market management business reached 4.36 trillion yuan, an increase of 17.39% from the beginning of the year[36] - The total currency trading volume reached 18.4 trillion yuan, placing it in the first tier of the market[36] - The scale of entrusted assets reached 2,217.53 billion yuan, an increase of 37.51% from the beginning of the year[38] - The company completed the migration of the interbank system and fully launched the new interbank business system, achieving efficient online processing of the entire lifecycle of investment and financing business[39] - Financial investments increased to RMB 1,326,432 million as of September 30, 2024, compared to RMB 1,275,806 million at the end of 2023[40] - The company issued bonds worth 415,850 million RMB in the first three quarters of 2024, compared to 438,110 million RMB in the same period of 2023[53] - The company repaid debts worth 389,452 million RMB in the first three quarters of 2024, compared to 386,925 million RMB in the same period of 2023[53]

证券代码：601169 证券简称：北京银行 公告编号：2024-048 北京银行股份有限公司董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 北京银行股份有限公司（以下简称"本行"）董事会二〇二四年第 八次会议于 2024 年 10 月 30 日在北京召开，采用现场表决方式。会 议通知和材料已于 2024 年 10 月 18 日以电子邮件方式发出。本次董 事会应到董事13 名，实际到会董事13名。会议由霍学文董事长主持。 监事会成员列席本次会议。 会议符合《中华人民共和国公司法》等有关法律、行政法规、部 门规章、规范性文件及《北京银行股份有限公司章程》的规定，会议 所形成的决议合法、有效。 会议通过决议如下： 一、通过《关于<北京银行 2024 年第三季度报告>的议案》。具 体内容详见本行在上海证券交易所披露的《北京银行股份有限公司 2024 年第三季度报告》。 本议案已经本行董事会审计委员会审议通过，并同意将该议案提 交董事会审议。 二、通过《关于<2024 年度中期利润分配预案>的议案》，同意提 请股东 ...

证券代码：601169 证券简称：北京银行 公告编号：2024-046 北京银行股份有限公司董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 会议通过决议如下： Praveen Khurana 董事因公务未出席会议，委托 Johannes Hermanus de Wit 董事代为出席并行使表决权。 北京银行股份有限公司（以下简称"本行"）董事会二〇二四年第 七次会议于 2024 年 10 月 9 日在北京召开，采用现场表决方式。会议 通知和材料已于 2024 年 9 月 29 日以电子邮件方式发出，会议变更通 知已于 2024 年 10 月 4 日以电子邮件方式发出。本次董事会应到董事 13 名，实际到会董事 12 名（Praveen Khurana 董事因公务未出席会议， 委托 Johannes Hermanus de Wit 董事代为出席并行使表决权）。会议由 霍学文董事长主持。监事会成员列席本次会议。 会议符合《中华人民共和国公司法》等有关法律、行政法规、部 门规章、规范性文件及《北京 ...

一、通过《关于发放"北银优 1"优先股股息的议案》。同意本行 于 2024 年 12 月 11 日向"北银优 1"优先股股东派发现金股息，按照"北 银优 1"票面股息率 4.67%计算，每股优先股发放现金股息人民币 4.67 元（含税），合计派发人民币 2.2883 亿元（含税）。 重要内容提示： 谭宁监事因公务未出席会议，委托李健外部监事代为出席并行 使表决权。 北京银行股份有限公司（以下简称"本行"）监事会二〇二四年第 七次会议于 2024 年 10 月 9 日在北京召开，采用现场表决方式。会议 通知和材料已于 2024 年 9 月 29 日以电子邮件方式发出，会议变更通 知已于 2024 年 10 月 4 日以电子邮件方式发出。本次监事会应到监事 8 名，实际到会监事 7 名（谭宁监事因公务未出席会议，委托李健外 部监事代为出席并行使表决权）。全体监事推举曾颖监事主持会议。 证券代码：601169 证券简称：北京银行 公告编号：2024-047 北京银行股份有限公司监事会决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别 ...

证券代码：601169 证券简称：北京银行 公告编号：2024-045 北京银行股份有限公司 关于无固定期限资本债券发行完成的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 北京银行股份有限公司（以下简称"本行"）于 2024 年 5 月 16 日召开的 2023 年年度股东大会审议批准了《关于发行资本补充工具 的议案》，同意本行发行不超过人民币 300 亿元（含）减记型无固定 期限资本债券或减记型合格二级资本工具。 经国家金融监督管理总局北京监管局和中国人民银行批准，本行 近日在全国银行间债券市场发行"北京银行股份有限公司 2024 年无 固定期限资本债券"（以下简称"本期债券"）。 本期债券于 2024 年 9 月 10 日簿记建档，并于 2024 年 9 月 12 日 完成发行，发行规模为人民币 100 亿元，前 5 年票面利率为 2.27%， 每 5 年调整一次，在第 5 年及之后的每个付息日附发行人有条件赎回 权。 本期债券募集资金将依据适用法律和监管部门的批准，用于补充 本行其他一级资本。 特此公告。 ...

Investment Rating - The report maintains a "Buy" rating for the company [2][3]. Core Views - The company reported a stable performance in its 2024 H1 results, with operating income and net profit attributable to shareholders reaching 35.544 billion yuan and 14.579 billion yuan, respectively, representing year-on-year growth of 6.37% and 2.39% [1]. - The net interest margin (NIM) decline has narrowed, with interest income increasing by 3.84% year-on-year, and the company has effectively managed its funding costs [1]. - Non-interest income has shown a robust growth of 13.43% year-on-year, although intermediary business income has faced pressure [1]. Summary by Sections Financial Performance - In H1 2024, the company achieved operating income of 35.544 billion yuan and net profit of 14.579 billion yuan, with a weighted average ROE of 10.98%, down 0.6 percentage points year-on-year [1]. - Interest income was 25.536 billion yuan, up 3.84% year-on-year, with a net interest margin of 1.47%, down 7 basis points [1]. Loan and Deposit Growth - Total loans increased by 7.56% year-to-date, with corporate loans growing by 17.46% [1]. - Total deposits grew by 13.18% year-to-date, with corporate and personal time deposits increasing by 12.41% and 16.81%, respectively [1]. Asset Quality - As of June, the non-performing loan ratio was 1.31%, down 0.01 percentage points from the beginning of the year, and the real estate non-performing loan ratio was 2.14%, down 1.46 percentage points [2]. Investment and Non-Interest Income - Non-interest income reached 10.008 billion yuan, accounting for 28.16% of total revenue, with investment income growing by 29.72% year-on-year to 6.971 billion yuan [1][2]. - The company is focusing on digital wealth management to enhance its non-interest income streams [1]. Future Outlook - The company is expected to maintain strong growth in its core deposit acquisition capabilities and cost management, with projected BVPS for 2024-2026 at 12.72, 13.55, and 14.42 yuan, respectively [2].