Gelonghui November 15｜China Merchants research report pointed out that China Everbright Bank (601818.SH) reported year-on-year growth rates for operating income, PPOP, and net profit attributable to shareholders for Q1 to Q3 of 2024 at -8.76%, -10.88%, and 1.92%, respectively. In terms of cumulative performance drivers, scale growth, other non-interest income, and provision accruals were the main positive contributions, while interest margin, middle-income, and cost-to-income ratio formed negative contributions. The company's fundamentals are solid and stable, and the efficiency of operational management continues to improve. Given the performance pressure in the banking industry in 2024 is relatively greater than in 2023, the overall profit forecast for 2024 has been adjusted downwards. China Everbright Bank's Q3 report shows stable performance and asset quality, maintaining a "strongly recommended" rating.