Gelonghui, January 19 | According to Haitong Securities Research Report, the Bank of Hangzhou (600926.SH) expects net profit to be increased by 23.15% year on year in '23, and the company's weighted average ROE will increase by 1.48 pcts year on year to 15.57% year on year. The company's non-performing ratio has stabilized at 0.76%, and future provisions are expected to continue to decline to release profits. It is believed that the Bank of Hangzhou has sufficient provisions and excellent asset quality, and there is room for further profit release in the future. Maintain an “better than the market” rating. The company's revenue increased 10.4% year-on-year in the 23Q4 single quarter, driving the year-on-year revenue growth rate for the full year of 2023 to 6.33%. Considering that net interest income in the fourth quarter was still under pressure, revenue growth accelerated or was due to a significant increase in non-interest income. Net profit to mother increased 12% year-on-year in the 23Q4 single quarter. The company's total 23Q4 loan volume increased by 14.94% year on year, exceeding the year-on-year growth rate of assets (13.91%). The growth rate on the asset side was basically in line with the debt side, and total deposits increased by 12.63% year on year.