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Decoding the path behind the growth of Shanghai Rural Commercial Banks in the third quarter.
On October 25th, "Investor Network" disclosed the third quarter performance report of Shanghai Rural Commercial Banks (601825.SH) for the year 2024. Overall, in the first three quarters of this year, the bank focused on both public business and retail finance, effectively supporting the real economy, and the comprehensive financial service capabilities have been significantly improved. At the same time, the bank's retail business transformation has been further deepened, with continuous reduction in liability costs, and the results of structural optimization are gradually becoming apparent. In the first three quarters of 2024, the bank achieved revenue of 20.484 billion yuan, a year-on-year increase of 0.34%, with non-interest net income of 5.252 billion yuan.
Shanghai Rural Commercial Bank (601825): Crediting steadily expands, assets quality remains stable
Key points: Crediting expanded steadily, deposit growth rate increased in 2024Q3. The year-on-year growth rates of total assets/loans/deposits of Shanghai Rural Commercial Bank were 7.9%/6.0%/8.9% respectively. Total assets growth rate increased by 0.9% compared to the mid-year, with loan growth rate
Huachuang Securities: In the third quarter, the proportion of bank stocks in fund holdings slightly increased from a low level, bullish on the sector's value in the upturn cycle.
In the third quarter of 2024, the proportion of actively held positions in bank stocks in public offering funds bottomed out slightly, with the position ratio still at a low level. However, with the rebound of stock prices, the degree of underweighting has narrowed, and market risk appetite has increased slightly.
Shanghai Rural Commercial Bank Co., Ltd. Report for the Third Quarter of 2024
Shanghai Agricultural Commercial Bank: net income in the first three quarters was 10.485 billion yuan, a year-on-year increase of 0.81%. Fee and commission income decreased by 16.45% year-on-year.
①Shanghai Rural Commercial Bank achieved revenue of 20.484 billion yuan in the first three quarters, a year-on-year increase of 0.34%; net income attributable to the parent company's shareholders was 10.485 billion yuan, a year-on-year increase of 0.81%. ②From the perspective of non-interest net income, fees and commissions decreased year-on-year, becoming a drag.
Express News | Shanghai Agricultural Commercial Bank: The net income for the third quarter was 3.514 billion yuan, a year-on-year increase of 1.19%.
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