渝农商行(601077) - 2024 Q1 - 季度财报

Financial Performance - Operating income for Q1 2024 was RMB 7,127.8 million, a decrease of 2.88% compared to RMB 7,339.2 million in Q1 2023[8] - Net profit for Q1 2024 was RMB 3,661.6 million, down 8.77% from RMB 4,013.7 million in Q1 2023[8] - The bank's operating profit for Q1 2024 was CNY 3,791,889 thousand, down from CNY 4,726,159 thousand in Q1 2023, a decrease of 19.8%[41] - Net profit for Q1 2024 was CNY 2,891,377, a decline of 21.06% compared to CNY 3,665,721 in Q1 2023[52] - The company's cost-to-income ratio improved to 27.21%, a decrease of 5.81 percentage points year-on-year, reflecting effective cost management strategies[24] Assets and Liabilities - Total assets as of March 31, 2024, reached RMB 1,491,082.7 million, an increase of 3.47% from RMB 1,441,082.0 million at the end of 2023[8] - Total liabilities increased to RMB 1,363,024.5 million, up 3.45% from RMB 1,317,580.3 million at the end of 2023[8] - The company's total assets as of March 31, 2024, amounted to 1.491 trillion yuan, an increase of 500.01 billion yuan or 3.47% from the end of the previous year[25] - Total liabilities rose to CNY 1,363,024,517 thousand as of March 31, 2024, compared to CNY 1,317,580,322 thousand at the end of 2023, marking an increase of 3.4%[38] Customer Loans and Deposits - Customer loans and advances totaled RMB 696,970.7 million, reflecting a growth of 2.99% from RMB 676,710.6 million at the end of 2023[8] - Customer deposits rose to RMB 951,560.4 million, marking a 6.18% increase from RMB 896,202.2 million at the end of 2023[8] - Customer loans and advances totaled 696.971 billion yuan, up 202.60 billion yuan or 2.99% from the end of the previous year[25] - Customer deposits reached 951.560 billion yuan, an increase of 553.58 billion yuan or 6.18% from the end of the previous year[25] Profitability Ratios - The return on average equity (annualized) decreased to 12.01%, down 2.66 percentage points from 14.67% in Q1 2023[8] - The annualized average return on total assets was 1.00%, a decrease of 0.17 percentage points year-on-year[23] - The annualized weighted average return on equity was 12.01%, down 2.66 percentage points from the previous year[23] Cash Flow - The net cash flow from operating activities significantly increased by 83.14% to RMB 69,904.6 million compared to RMB 38,170.9 million in Q1 2023[12] - Net cash flow from operating activities for Q1 2024 was ¥75,257,069 thousand, a significant increase from ¥37,456,835 thousand in Q1 2023, representing a growth of 100.5%[55] - Cash inflow from financing activities was ¥15,679,930 thousand in Q1 2024, down from ¥40,241,625 thousand in Q1 2023, a decrease of 61.0%[56] Investment Income - The bank reported a significant increase in investment income to CNY 938,466 thousand in Q1 2024, compared to CNY 464,183 thousand in Q1 2023, an increase of 102.1%[41] - The company reported a significant increase in investment income to CNY 1,070,899, compared to CNY 519,213 in Q1 2023[52] Non-Performing Loans - The company's non-performing loan balance was 8.274 billion yuan, with a non-performing loan ratio of 1.19%, remaining stable compared to the end of the previous year[26] - The provision for credit impairment losses for the period was 1.333 billion yuan, an increase of 1.203 billion yuan year-on-year, primarily due to a low base from the previous year[23]