Chongqing Rural Commercial Bank First Quarter 2024 Earnings: EPS: CN¥0.31 (vs CN¥0.35 in 1Q 2023)

Chongqing Rural Commercial Bank (HKG:3618) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥5.79b (down 20% from 1Q 2023).
• Net income: CN¥3.52b (down 11% from 1Q 2023).
• Profit margin: 61% (up from 55% in 1Q 2023). The increase in margin was driven by lower expenses.
• EPS: CN¥0.31 (down from CN¥0.35 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Chongqing Rural Commercial Bank Earnings Insights

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Banks industry in Hong Kong.

Performance of the Hong Kong Banks industry.

The company's shares are down 1.8% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Chongqing Rural Commercial Bank's balance sheet and an in-depth analysis of the company's financial position.

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