On November 14th, according to the research reports by China Merchants Securities, the revenue, PPOP, and net profit of Bank of Jiangsu (600919.SH) in Q1~Q3 of 2024 increased by 6.18%, 7.06%, and 10.06% respectively year-on-year. Both revenue and profit growth rates remained stable, with an annualized weighted average ROE of 16.33%. In terms of cumulative performance drivers, scale growth, other non-interest income, and provision for bad debts were the main positive contributors, while net interest margin and fee income had a negative impact. Bank of Jiangsu ranks among the top tier of domestic city commercial banks, with favorable geographical location laying a solid foundation for the rapid development of the company's business. The company focuses on local markets, actively promoting retail transformation, and has excellent fundamentals. The "strongly recommended" rating is maintained.