Shenzhen-listed A-share lender Jiangsu Zhangjiagang Rural Commercial Bank (江苏张家港农商行) has seen robust growth in net profits in the first half of 2022, despite the ongoing adverse impacts of the Covid-pandemic on the Chinese economy.
Zhangjiagang Rural’s operating revenues were 2.353 billion yuan in the first half of 2022, for year-on-year (YoY) growth of 5.74%, according to the lender’s mid-year report. Net profits were 762 million yuan, for YoY growth of 27.76%.
As of the end of the first half of 2022 Zhangjiagang Rural’s total assets were 177.599 billion yuan, for an increase of 7.91% compared to the start of the year. Total deposits were 133.224 billion yuan, for an increase of 9.98% compared to the start of the year, while total loans were 109.247 billion yuan, for an increase of 9.45%.
As of the end of the first half of 2022 Zhangjiagang Rural’s non-performing loan (NPL) balance was 989 billion yuan, for an NPL ratio of 0.90%, and a decline in its NPL ratio of 0.05 percentage points compared to the start of the year. The provision coverage ratio was 533.31%, for an increase of 57.96 percentage points compared to the start of the year.
