Original title: Sunong Bank’s net profit in the first half of the year increased by 20% and revenue increased by 6.53%
Author: Ripple
On July 5, Sunong Bank (603323.SH) released a performance report showing that in the first half of 2022, the operating income was 2.088 billion yuan, a year-on-year increase of 6.53%; the net profit attributable to shareholders of the listed company was 847 million yuan, a year-on-year increase. 21.87%; the operating profit was 934 million yuan, a year-on-year increase of 17.78%; the total profit was 932 million yuan, a year-on-year increase of 17.68%.
(Source: Sunon Bank’s 2022 first half performance report)
Sunong Bank was established in Wujiang District, Suzhou, Jiangsu in August 2004 and listed in November 2016. It is mainly engaged in commercial banking business. The bank takes advantage of local banks in Wujiang to focus on small and medium-sized enterprises and the general public in its business development.
According to the financial report, the basic earnings per share of Sunong Bank in the first half of 2022 will be 0.47 yuan per share, a year-on-year increase of 20.51%; the weighted average return on equity is 12.70%, a year-on-year increase of 1.38 percentage points.
As of the end of June 2022, the total assets of Sunong Bank were 170.474 billion yuan, an increase of 7.40% from the beginning of the year; the total liabilities were 156.613 billion yuan, an increase of 7.67% from the beginning of 2022; the total loans were 104.446 billion yuan, an increase of 9.64% from the beginning of the year, of which Loans in Suzhou area (excluding Wujiang District) were 19.004 billion yuan, an increase of 20.13% compared with the beginning of the year; total deposits were 130.196 billion yuan, an increase of 6.16% compared with the beginning of the year.
According to the financial report, as of the end of June 2022, the ratio of total loans to total assets of Sunong Bank was 61.27%, an increase of 1.25 percentage points from the beginning of the year; the ratio of loans in Suzhou area (excluding Wujiang District) to loans was 18.20%, an increase of 1.59 percentage points from the beginning of the year percentage point.
In terms of asset quality, as of the end of the first half of 2022, the non-performing loan ratio of Sunong Bank was 0.95%, down 0.05 percentage points from the beginning of the year; the special mention loan ratio was 1.86%, down 0.70 percentage points from the beginning of the year; the provision coverage ratio was 430.10% , an increase of 17.88 percentage points from the beginning of the year.
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