Bank Of Shanghai(601229)2024-11-15 07:35Financial Performance - In the first three quarters of 2024, the group achieved operating income of CNY 39.542 billion, a year-on-year increase of 0.68% [1] - Net profit attributable to shareholders was CNY 17.587 billion, with a year-on-year growth of 1.40% [1] - The non-performing loan (NPL) ratio stood at 1.20%, an increase of 0.04 percentage points from the end of the previous year [1] Asset Quality - The overall asset quality shows a stable and improving trend, with key indicators such as non-performing assets and loans continuously improving [2] - New non-performing loans have been decreasing year-on-year, and the risk coverage capacity remains sufficient [2] - As of September 2024, the provision coverage ratio was 4.65%, and the loan provision ratio was 3.33% [1] Credit Growth Areas - In the first three quarters of 2024, over 90% of the increase in corporate loans came from key areas such as technology finance, inclusive finance, and green finance [2] - Loans to technology enterprises reached CNY 177.225 billion, a year-on-year increase of 35.24% [2] - Inclusive finance loans amounted to CNY 156.873 billion, growing by 34.56% year-on-year [2] - Green finance loans totaled CNY 64.774 billion, with a year-on-year growth of 10.36% [2] Mortgage Loan Strategy - The bank actively supports consumer financing for housing, with a mortgage loan balance of CNY 157.674 billion as of September 2024, including CNY 74.143 billion in Shanghai, a growth of 4.15% from the previous year [2] Deposit Business and Cost Management - Total deposits reached CNY 1,746.064 billion, reflecting a year-on-year growth of 6.46% [2] - The interest rate for corporate deposits was 1.79%, down by 0.14 percentage points year-on-year, while personal deposit rates were at 2.16%, a decrease of 0.15 percentage points [2] Dividend Distribution - The board approved the mid-term profit distribution plan on September 29, 2024, proposing a dividend of CNY 3 for every 10 shares held [3]