On June 30, 2024, Huishang Bank (03698.HK) announced that its total assets were approximately RMB 1.93 trillion, an increase of 6.75% from the beginning of the year. The revenue was approximately RMB 20.692 billion, an increase of 4.57% from the same period last year. The net income was approximately RMB 8.986 billion, an increase of 5.9% from the same period last year. The core Tier 1 capital adequacy ratio was approximately 9.41%, an increase of 0.27 percentage points from the end of last year, and the capital adequacy ratio was approximately 13.37%, an increase of 0.16 percentage points from the end of last year. The non-performing loan ratio was approximately 1.14%, achieving a double decrease in non-performing loan amount and non-performing loan ratio, and the provision coverage ratio was approximately 272.51%.
The bank believes that the main reasons for the group's good performance in mid-2024 are: sticking to serving the real economy, increasing credit investment in key areas, and promoting balanced development of business in coordination; continuously optimizing asset structure, high-quality liability management; achieving remarkable results in disposing of non-performing assets through various measures.