As Zhengzhou Bank's performance warms up: "70s-born female president" qualification approved

After experiencing a performance " Waterloo," Zhengzhou Bank is now witnessing a simultaneous recovery in revenue and net profit.

On January 24, Zhengzhou Bank disclosed that the company achieved a total revenue and net profit of 12.861 billion yuan and 1.866 billion yuan in 2024, with growth rates of -5.9% and 0.88%, respectively.

Compared to the disclosed performance of other joint-stock banks and city commercial banks, this performance is not particularly outstanding; however, it shows significant improvement compared to 2023, with the revenue decline narrowing by 3.6 percentage points and net profit returning to growth.

In terms of asset scale, Zhengzhou Bank continues to maintain a rapid expansion pace, with total assets growing by 7.33% compared to the beginning of the year; deposit and loan growth rates are 12.07% and 7.51%, respectively.

Compared to last year's performance, the ability to attract deposits has significantly improved, with a growth rate increase of 5.18 percentage points compared to the same period last year; the loan growth rate has slightly declined, decreasing by 1.46 percentage points compared to the same period last year.

Strategically, Zhengzhou Bank mainly focuses on local economic development.

For example, it supports key projects such as the Central Plains Science and Technology City Intelligent Technology Industrial Park and key enterprises like the Provincial Investment Group and Zhengzhou Coal Mining Machinery Group, centered around the "7+28+N" industrial chain cluster and the "three batches" projects.

While performance is recovering, Zhengzhou Bank's personnel is also being reshaped.

By the end of November 2024, the board of directors of Zhengzhou Bank has approved a proposal to appoint Li Hong, a "post-70s female leader" who has worked for 16 years at the Beijing branch of Postal Savings Bank, as the new president;

On January 25, Li Hong's qualifications for the position were approved by regulators, and she officially resigned from her position as assistant president on the same day.

In the performance announcement, Zhengzhou Bank did not disclose asset quality.

As of the end of the third quarter of 2024, the bank's non-performing loan ratio was 1.86%, a slight decrease of 0.01 percentage points compared to the beginning of the year; the provision coverage ratio was 166.23%, and the capital adequacy ratio was 12.29%