Blue Whale News, October 22nd (Reporter Jin Lei, Xiao Yang, Intern) On the evening of October 21st, Bank of Hangzhou (600926.SH) announced its performance for the first three quarters of 2024, also the first quarterly report among listed city commercial banks this year.

The report shows that as of the end of September, Bank of Hangzhou achieved revenue of 28.494 billion yuan, a year-on-year increase of 3.87%; achieved a net income attributable to shareholders of 13.87 billion yuan, a year-on-year increase of 18.63%. As of the end of September, the bank's total assets also exceeded 2 trillion yuan, reaching 2.02 trillion yuan.

On the same day, Bank of Hangzhou announced the 2024 mid-year profit distribution plan, based on the total share capital of ordinary shares registered on the equity distribution record date, distributing cash dividends of 3.7 yuan RMB per 10 shares to all ordinary shareholders, totaling a proposed cash dividend of 2.194 billion yuan.

From the perspective of income composition, during the reporting period, Bank of Hangzhou achieved net interest income of 18.273 billion yuan, a year-on-year increase of 3.87%; net fee and commission income was 2.928 billion yuan, a year-on-year decrease of 8.07%; investment income was 5.975 billion yuan, a year-on-year increase of 27.9%. In addition, operating expenses were 12.637 billion yuan, a year-on-year decrease of 9.7%, including credit impairment losses of 4.583 billion yuan, a year-on-year decrease of 27.46%.

As of the end of September, the bank's total assets were 2.02 trillion yuan, an increase of 9.58% compared to the beginning of the year; of which loans and advances amounted to 873.925 billion yuan, an increase of nearly 100 billion yuan compared to the beginning of the year. In terms of liabilities, the bank's total liabilities were 1.89 trillion yuan, an increase of 8.96% compared to the beginning of the year; of which deposits amounted to 1.19 trillion yuan, an increase of approximately 135.272 billion yuan compared to the beginning of the year.

At the end of the reporting period, Bank of Hangzhou's core Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio, and capital adequacy ratio were 8.76%, 11.00%, and 13.78%, respectively, an increase of 1.27 percentage points, 1.36 percentage points, and 0.6 percentage points compared to the beginning of the year.

In terms of asset quality, at the end of the reporting period, Bank of Hangzhou's non-performing loan ratio was 0.76%, the same as the end of the previous year, with a ratio of 90.92% for overdue loans to non-performing loans, and a ratio of 70.26% for loans overdue for more than 90 days to non-performing loans.