Bank of Chongqing (01963) announced interim results. Net profit of 3,026 billion yuan increased 4.12% year over year

According to the Zhitong Finance App, Bank of Chongqing (01963) announced interim results for the six months ended June 30, 2024. The group achieved net interest income of 5.224 billion yuan (RMB, same below) during the period, a year-on-year decrease of 3.01%; operating income of 6.954 billion yuan, an increase of 3.31%; net profit to mother of 3,026 billion yuan, an increase of 4.12%; and a basic profit of 0.87 yuan per share.

According to the announcement, as of June 30, 2024, the Group's total assets were 805.968 billion yuan, up 6.06% from the end of the previous year; total customer loans and advances were 419.897 billion yuan, up 6.86% from the end of the previous year; total liabilities were 744.141 billion yuan, up 6.22% from the end of the previous year; and total customer deposits were 450.0 billion yuan, up 8.48% from the end of the previous year.

As of June 30, 2024, the Group's non-performing loan ratio was 1.25%, down 0.09 percentage points from the end of the previous year. The share of concerned loans and overdue loans both declined compared to the beginning of the year; the provision coverage rate was 249.59%, up 15.41 percentage points from the end of the previous year.

As of June 30, 2024, the Group's core Tier 1 capital adequacy ratio, and capital adequacy ratio were 10.16%, 11.55%, and 13.77% respectively, up 0.38, 0.39, and 0.40 percentage points respectively from the end of the previous year.