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Research Reports Gold Digger丨China Securities Co.,Ltd.: Maintains 'Buy' rating for Shanghai Pudong Development Bank, with growth continuing to lead the industry.
The research report from CSC indicates that in the fourth quarter, thanks to the further decline in bond rates, other non-interest income strongly supported the narrowing of Shanghai Pudong Development Bank's (600000.SH) revenue decline quarter-on-quarter. The trend of "bottoming out and rebounding" in net income attributable to the parent company continues, and the growth rate remains a leader in the industry. Looking ahead to 2025, investments will continue to focus on five new tracks. Although there is still downward pressure on asset pricing, the cost of liabilities will continue to improve, supporting the interest margin. Coupled with the continuous reduction of existing risks and the steadily solidified provisioning base, its performance is expected to achieve steady growth, further strengthening the logic of reversing the predicament. Revenue growth rates are expected for 2025 and 2026.
SPD Bank: Announcement on the 2024 Annual Results Report of Shanghai Pudong Development Bank Co., Ltd.
Shanghai Pudong Development Bank Co., Ltd. 2024 Annual Results Express Announcement
Shanghai Pudong Development Bank (600000.SH): Net income for 2024 is 45.257 billion yuan, a year-on-year increase of 23.31%.
On January 16, Gelonghui reported that Shanghai Pudong Development Bank (600000.SH) announced its performance summary for 2024. During the reporting period, the group achieved revenue of 170.748 billion yuan, a year-on-year decrease of 2.686 billion yuan, a decline of 1.55%; after excluding the one-time impact from the sale of the equity in Shanghai Investment Morgan in the same period last year, revenue increased by 1.555 billion yuan year-on-year, a growth of 0.92%. The net income attributable to the shareholders of the parent company was 45.257 billion yuan, an increase of 8.555 billion yuan year-on-year, a growth of 23.31%; the net income attributable to the shareholders of the parent company, excluding non-recurring gains and losses, was 442.07.
Express News | Shanghai Pudong Development Bank Prelim 2024 Net Profit up 23.3%
Press Release: IMPLANET Announces 2024 Full-Year Revenue Up 26% to EUR9.4 Million
