Regional lender Bank of Changsha saw robust growth in operating revenues and profits for the first half of 2022, alongside a decline in its level of bad loans.
Bank of Changsha posted operating revenues of 11.259 billion yuan for the first half, representing year-on-year (YoY) growth of 8.71%, according to its mid-year report released on 29 August. Net profits attributable to shareholders totalled 3.6 billion yuan, for YoY growth of 13.11%.
The bank’s total assets stood at 859.965 billion yuan as of the end of the first half, for growth of 8.02% compared to the start of the year.
Growth in net returns on investment, processing fees and net commission revenues drove growth in the bank’s non-interest net revenues to 2.791 billion yuan in the first half, for YoY growth of 14.25%. These revenues accounted for 24.79% of Bank of Changsha’s operating revenues.
As of the end of the second half Bank of Changsha’s non-performing loan ratio was 1.18%, for a decline of 0.02 percentage points compared to the start of the year. The special mention loan ratio was 1.55%, for a decline of 0.43 percentage points.
Bank of Changsha’s provisions coverage ratio was 301.82%, for an increase of 3.95 percentage points compared to the start of 2021.
Retail clients – a key area of focus for China’s municipal banks, had increased to 16.1352 million as of the end of the second half, for a rise of around 406,900 in 2022 alone.