Chongqing Rural Commercial Bank (HKG:3618) Second Quarter 2024 Results
Key Financial Results
- Revenue: CN¥6.39b (up 10.0% from 2Q 2023).
- Net income: CN¥3.83b (up 26% from 2Q 2023).
- Profit margin: 60% (up from 52% in 2Q 2023). The increase in margin was primarily driven by higher revenue.
- EPS: CN¥0.33 (up from CN¥0.26 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Chongqing Rural Commercial Bank Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 43%.
Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Banks industry in Hong Kong.
Performance of the Hong Kong Banks industry.
The company's share price is broadly unchanged from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. See our latest analysis on Chongqing Rural Commercial Bank's balance sheet health.
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