① On the evening of July 22, Qilu Bank released the 2024 semi-annual performance report. This is also the first A-share urban commercial bank to release a first-half performance report; ② Currently, three listed banks have released early performance reports for the first half of the year, including two agricultural commercial banks and one urban commercial bank. Judging from the data, asset quality is stable, moderate and improving; ③ Before announcing this performance report, Qilu Bank had just fallen into a public opinion storm due to a storm of major shareholders reducing their holdings.
Financial Services Association, July 23 (Reporter Peng Kefeng) After the listed agricultural and commercial banks successively released quick half-year performance reports, urban commercial banks also began to join the team to report good results.
On the evening of July 22, Qilu Bank released its 2024 semi-annual performance report, achieving operating income of 6.412 billion yuan, an increase of 5.53% year on year; net profit attributable to shareholders of listed companies was 2.347 billion yuan, an increase of 16.98% year on year. This is also the first A-share urban commercial bank to release a performance report for the first half of the year.
Qilu Bank's performance was happy after the majority shareholders' holdings reduction crisis
According to the performance report, as of the end of the year 2024, Qilu Bank's total assets were 647.544 billion yuan, an increase of 42.728 billion yuan from the beginning of the year, an increase of 7.06%; total loans of 326.639 billion yuan, an increase of 26.446 billion yuan over the beginning of the year, an increase of 8.81%; and total deposits of 423.153 billion yuan, an increase of 25.076 billion yuan from the beginning of the year, an increase of 6.30%.
Furthermore, in the first half of 2024, Qilu Bank achieved operating income of 6.412 billion yuan, an increase of 5.53% year on year; net profit attributable to shareholders of listed companies was 2.347 billion yuan, an increase of 16.98% year on year. The weighted average return on net assets was 12.66%, up 0.03 percentage points from the same period last year; basic earnings per share were 0.46 yuan, up 12.20% year on year.
A Financial Services News reporter noticed that before announcing this performance report, Qilu Bank had just fallen into a storm of public opinion due to the majority shareholders' holdings reduction. After the July 9 market, Qilu Bank issued an announcement stating that Chongqing Huayu, the bank's fifth largest shareholder, plans to reduce its holdings of no more than 63.6989 million shares through centralized bidding or bulk transactions within 3 months after 15 trading days from the date of disclosure, with a reduction ratio of no more than 1.32% of the company's total share capital. According to reports, the current holdings reduction price will not be less than 4.59 yuan/share. According to this estimate, Chongqing Huayu's total cash out in this round will exceed 0.292 billion yuan.
Three listed banks have issued performance reports and overall asset quality is stable
Today, according to the Financial Services Association reporter's statistics, three listed banks have now released quick performance reports for the first half of the year, including two agricultural commercial banks and one urban commercial bank.
On the evening of July 17, Zhejiang Shaoxing Ruifeng Rural Commercial Bank Co., Ltd. issued an announcement stating that in the first half of the year, it achieved operating income of 2.174 billion yuan, an increase of 14.90% over the previous year; net profit attributable to shareholders of listed companies was 0.843 billion yuan, an increase of 15.48% over the previous year.
On the evening of July 18, Sunong Bank released a quick report on its 2024 semi-annual results. In the first half of this year, the bank achieved operating income of 2.264 billion yuan, an increase of 8.02% year on year; net profit to mother was 1.121 billion yuan, an increase of 15.81% year on year.
A Financial Services Association reporter noticed that judging from the current performance reports of the three listed banks, their asset quality is stable, moderate and improving — the two banks' bad performance rates were the same as at the beginning of the year, and one showed a decline; the provision coverage rate of the two banks increased compared to the beginning of the year, and one showed a decline.
Specifically, Rui Fung Bank's non-performing loan ratio in the first half of the year was 0.97%, the same as at the beginning of the year; the provision coverage rate was 323.79%, up 19.67 percentage points from the beginning of the year. As of the end of June, Sunong Bank's non-performing loan ratio was 0.91%, the same as at the end of 23; focus on the loan ratio of 1.19%, down 0.02 percentage points from the beginning of the year. However, its provision coverage rate was 441.80%, down 11.05 percentage points from the beginning of the year, but the provision rate is still high. By the end of the year 2024, Qilu Bank's non-performing loan ratio was 1.24%, down 0.02 percentage points from the beginning of the year; the provision coverage rate was 309.25%, up 5.67 percentage points from the beginning of the year.
In response, on July 22, Zhongtai Securities stated in the 2024 semi-annual report outlook and forecast research report of listed banks that currently all banks are confident of stable asset quality throughout the year, and that there is room for maneuver in their stocks of non-performing loans and provisions. Retail assets are still under pressure to increase bad margins this year, but infrastructure loans and the physical manufacturing industry, which account for the majority of credit, have remained relatively stable. At the same time, there are high reserves to cover risks, and the overall poor forecast for the industry remains stable.