Investment Rating - The investment rating for Beijing Bank is "Accumulate" (maintained) with a market price of 5.68 [1]. Core Insights - In Q1 2024, Beijing Bank's revenue increased by 7.9% year-on-year, and net profit attributable to shareholders grew by 5.0%, indicating a significant improvement in revenue growth and a marginal increase in net profit growth [4][6]. - The bank's net interest income rose by 1.9% year-on-year, with a notable increase in non-interest income by 27.2%, primarily driven by other non-interest income sources [4][6]. - The bank's asset quality continues to improve, with a non-performing loan (NPL) ratio of 1.31%, down 1 basis point from the previous quarter, and a significant decrease in the annualized NPL generation rate [16][17]. Summary by Sections Financial Performance - Total shares outstanding: 21,143 million [2]. - Market capitalization: 120,092 million [2]. - Revenue forecast for 2024E is 68,668 million, with a growth rate of 3.0% [4]. - Net profit forecast for 2024E is 27,236 million, with a growth rate of 6.3% [4]. Revenue and Profitability - Q1 2024 revenue growth of 7.9% and net profit growth of 5.0% [4][6]. - Net interest income for Q1 2024 decreased by 0.2% quarter-on-quarter, with an annualized interest margin of 1.49% [5][9]. - Non-interest income increased by 27.2%, with net fee income down by 16.1% [13]. Asset and Liability Management - Loan growth in Q1 2024 was strong, with new loans of 1,044.5 billion, a year-on-year increase of 26.9 billion [10]. - Deposits increased by 5.3% quarter-on-quarter, with a total increase of 1,102.1 billion in Q1 2024 [10][11]. Asset Quality - The NPL ratio improved to 1.31%, with a quarterly decrease in the annualized NPL generation rate to 0.69% [16][17]. - The provision coverage ratio stood at 213.13%, down 3.65 percentage points from the previous quarter [16]. Shareholder Dynamics - Major shareholders include Beijing State-owned Assets Management Co., which increased its stake to 8.92% [18][19]. - The current stock price corresponds to a projected PB of 0.46X for 2024E [18].

Investment Rating - The report assigns a rating of "Accumulate" for the company [1]. Core Insights - The company's revenue growth rate has significantly improved, with a year-on-year increase of 7.9% in Q1 2024, and net profit growth of 5.0% [4][6]. - The company is experiencing positive trends in asset quality and expansion momentum, which have previously suppressed its valuation [4][18]. - The current stock price corresponds to a price-to-book (PB) ratio of 0.46X for 2024E, indicating potential upside [18]. Financial Performance Summary Revenue and Profitability - Total revenue for 2022 was 66,236 million, with a projected increase to 68,668 million in 2024E, reflecting a growth rate of 3.0% [4]. - Net profit for 2022 was 24,760 million, expected to rise to 27,236 million by 2024E, with a growth rate of 6.3% [4]. - Earnings per share (EPS) is projected to be 0.35 in 2024E, up from 0.31 in 2022 [4]. Non-Interest Income - Non-interest income increased by 27.2% year-on-year, primarily driven by other non-interest income contributions [13]. - Net fee income decreased by 16.1%, while net other non-interest income rose by 51.3% [13]. Asset Quality - The non-performing loan (NPL) ratio improved to 1.31% in Q1 2024, down from 1.32% in the previous quarter [16]. - The provision coverage ratio stands at 213.13%, indicating a strong buffer against potential loan losses [16]. Capital Adequacy - As of the end of Q1 2024, the core Tier 1 capital adequacy ratio is 9.11%, reflecting a slight decrease [18]. Shareholder Dynamics - Significant changes in major shareholders include an increase in holdings by Beijing State-owned Assets Management Co. and others [18][19]. Valuation Metrics - The report highlights that the company's high dividend yield is a significant advantage in the current market environment [18].

北京银行股份有限公司 2023年年度股东大会会议材料 （股票代码：601169） 中国·北京 2024年5月16日 | 会 议 议 | | 程 I | | | --- | --- | --- | --- | | 会 议 须 | | 知 II | | | 议案一 | 关于《2023 | 年度董事会工作报告》的议案 | 1 | | 议案二 | 关于《2023 | 年度监事会工作报告》的议案 | 9 | | 议案三 | 关于《2023 | 年度财务报告》的议案 | 18 | | 议案四 | 关于《2024 | 年度财务预算报告》的议案 | 23 | | 议案五 | 关于《2023 | 年度利润分配预案》的议案 | 30 | | 议案六 | 关于聘请 | 2024 年度会计师事务所的议案 | 31 | | 议案七 | | 关于对北京市国有资产经营有限责任公司关联授信的议案 | 32 | | 议案八 | | 关于对北京能源集团有限责任公司关联授信的议案 | 36 | | 议案九 | | 关于对中国长江三峡集团有限公司关联授信的议案 | 40 | | 议案十 | | 关于对兴业银行股份有限公司关联授信的议案 | 45 | ...

北京银行股份有限公司（以下简称"本行"）副行长韩旭先生因 工作调动，向本行董事会提交辞呈，辞去其所担任的副行长职务。韩 旭先生的辞任自辞呈送达本行董事会之日起生效。 经韩旭先生确认，其与本行董事会无不同意见，亦无任何与其辞 任有关的事项需要通知本行股东。 证券代码：601169 证券简称：北京银行 公告编号：2024-020 北京银行股份有限公司关于副行长辞任的公告 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。 本行董事会谨此对韩旭先生担任本行有关职务期间为本行做出 的贡献表示衷心感谢。 特此公告。 北京银行股份有限公司董事会 2024 年 5 月 9 日 ...

Investment Rating - The report maintains a "Buy" rating for Bank of Beijing with a target price of 6.50 CNY, corresponding to a 0.52x PB for 2024 [3][5]. Core Views - The performance of Bank of Beijing in Q1 2024 exceeded expectations, with rapid growth in deposits and loans, further optimization of the asset-liability structure, and stable asset quality [3]. - The bank's revenue in Q1 2024 grew by 7.8% year-on-year, primarily due to a low base in the same period of 2023 and a significant increase in investment income, which drove other non-interest income to grow by over 50% [3]. - The net profit for Q1 2024 increased by 5% year-on-year, despite pressures on net interest margins [3]. Summary by Sections Financial Performance - Q1 2024 total assets increased by 11.2% year-on-year, with loans growing by 11.6%, mainly driven by corporate loans, leading to an increase in the loan-to-asset ratio to 54.4% [3]. - Deposits grew by 9.3% year-on-year, with the deposit ratio in total liabilities rising to 61.3% [3]. - The bank's net profit forecast for 2024-2026 is projected to grow at rates of 1.96%, 3.55%, and 4.92%, respectively, with corresponding EPS of 1.08, 1.12, and 1.19 CNY [3][4]. Asset Quality - As of the end of Q1 2024, the non-performing loan ratio decreased by 1 basis point to 1.31%, while the provision coverage ratio fell by 3.7 percentage points to 213.1% [3]. - The loan loss provision ratio decreased by 7 basis points to 2.79%, indicating stable asset quality metrics [3]. Valuation Metrics - The report provides a financial summary indicating a projected net profit of 26,126 million CNY for 2024, with a slight increase in net interest income and a stable cost-to-income ratio [4][10]. - The bank's market capitalization is reported at 117,978 million CNY, with a current stock price of 5.58 CNY [5][7].

公 银行 司 2024年 4月 30日 报 北京银行(601169.SH) 告 营收表现亮眼，资负结构优化持续 推荐（维持） 事项： 北京银行发布2024年一季报，1季度实现营业收入177亿元，同比增长7.8%， 股价：5.53 元 实现归母净利润 78.6 亿元，同比增长5.0%。截至 2024 年1 季度末，公司总 资产规模达到3.89万亿元，较年初增长3.89%，贷款较年初增长5.18%，存款 公 主要数据 较年初增长5.36%。 司 行业 银行 平安观点： 季 公司网址 www.bankofbeijing.com.cn 大股东/持股 ING BANK N.V./13.03%  盈利稳健增长，非息拉动营收增速回升。北京银行2024年1季度归母净 报 实际控制人 利润同比增长5.0%，同比增速较2023年提升1.5百分点，拆分来看，营 点 总股本(百万股) 21,143 收增速的回升是驱动盈利改善的主要因素。北京银行2024年1季度营收 流通A股(百万股) 21,143 评 流通B/H股(百万股) 同比增长7.8%（vs23年0.7%），增速显著回升，其中剔除中收后其他非 总市值（亿元） 1,169 息 ...

证券代码：601169 证券简称：北京银行 北京银行股份有限公司 2024 年第一季度报告 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法律责任。 重要内容提示 1.本行董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、 准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别及连带的法律责 任。 2.本报告于2024年4月26日经本行董事会审议通过。会议应出席董事 11名，实 际出席董事11名，本行 8名监事列席了会议。 3.本行法定代表人霍学文、行长杨书剑、首席财务官曹卓保证季度报告中财务报 表信息的真实、准确、完整。 4.本报告中“本公司”和“公司”指北京银行股份有限公司及其附属机构；“本 行 ...

近日，北京银行发布2023年全年业绩。 数据显示，截至2023年末，北京银行资产总额3.75万亿元，较年初增长10.65%，规模继续保持城商行首 位。 实现营业收入667.11亿元，同比增长0.66%；实现归母净利润256.24亿元，同比增长3.49%。 北京银行成立于1996年，总部位于北京，是目前国内资产规模最大的城市商业银行。 2007年9月19日，北京银行在上海证券交易所主板上市，并迈入发展快车道。 公开数据显示，从2007年到2016年，上市十年时间，该行的净利润便从33.48亿元一路飙升至178.02亿 元，增速高达432%。其总资产更是从2007年末的3542亿元，增长至2016年末的21163亿元，增幅 497%。 如今，北京银行经营网络已覆盖北京、天津、上海、长沙、乌鲁木齐等全国十余多个中心城市，形成了 以商业银行为主体，覆盖消费金融、人寿保险、金融租赁、基金、理财等多个领域的综合金融服务平 台。 值得一提的是，2023 年，按一级资本在英国《银行家》杂志全球千家大银行排名，北京银行排名 第 53 位；在世界品牌实验室发布的《中国500 最具价值品牌》榜单中，该行又以 876 亿元的品牌价值 ...

公[T司abl点e_H评ea报der告] ●银行业 2024年 4月 17日 [Table_Title] [Table_StockCode] 北京银行(601169) 盈利稳健增长，扩表动能强劲 [Table_InvestRank] 推荐 维持评级 核心观点： 分析师 [T abl事e_S件u：mm公a司ry]发 布了 2023年年度报告。 [张Ta一b纬le_ Authors] ：010-80927617  盈利保持稳健增长：2023 年，公司实现营业收入 667.11 亿元，同比增长 ：zhangyiwei_yj@chinastock.com.cn 0.66%；实现归属于母公司股东净利润 256.24亿元，同比增长 3.49%，ROE 分析师登记编码：S0130519010001 为 9.32%，总体保持稳健。  存贷款规模扩张动能强劲，净息差存在改善空间：2023年，公司实现利 息净收入 503.50亿元，同比下降 2.15%，主要受 LPR下调、贷款重定价和 房贷加点上限调整等因素影响，贷款收益率持续下降给息差带来下行压力。 2023年，公司净息差 1.54%，同比下降 22BP，生息资产和 ...

详解北京银行2023年报：业绩稳健增长，不良率继续下行 北京银行(601169)/银行 证券研究报告/公司点评 2024年4月15日 [Table_Industry] [评Ta级ble：_T增itle持] (首次覆盖) [公Ta司ble盈_F利in预anc测e]及 估值 市场价格：5.60 指标 2022A 2023A 2024E 2025E 2026E 营业收入（百万元） 66,236 66,674 68,668 70,759 73,219 分析师 戴志锋 增长率yoy% 0.00% 0.70% 3.00% 3.00% 3.50% 执业证书编号：S0740517030004 净利润（百万元） 24,760 25,624 27,236 29,045 30,650 Email：daizf@zts.com.cn 增长率yoy% 11.40% 3.50% 6.30% 6.60% 5.50% 每股收益（元） 0.31 0.6 0.35 0.37 0.43 分析师 邓美君 每股现金流量 执业证书编号：S0740519050002 净资产收益率 11.06% 10.68% 10.68% 10.69% 10.27% Ema ...