Phoenix Finance News On April 28, Beijing Rural Commercial Bank released its 2024 annual report, which is the first annual report "report card" handed over by Guan Wenjie since he took office as chairman of the bank.

In January 2024, Guan Wenjie, the president of China CITIC Bank, was transferred to the Party Secretary of Beijing Rural Commercial Bank, and officially became the chairman of Beijing Rural Commercial Bank in June of that year. Guan Wenjie's "airdrop" was highly expected. Therefore, his first annual report after taking office as chairman of the bank has attracted much attention from the market.

Financial report data shows that as of the end of 2024, the total assets of Beijing Rural Commercial Bank were 1.27 trillion yuan, an increase of 2.11% over the end of the previous year. In 2024, the bank achieved operating income of 18.063 billion yuan, a year-on-year increase of 18.09%; and achieved net profit of 7.973 billion yuan, a year-on-year increase of 0.71%.

Why is the growth rate of net profit far less than revenue? Phoenix Finance's "Bank Finance Eye" dismantled its profit statement and found that Beijing Rural Commercial Bank had made significant credit impairment losses in 2024. Specifically, the bank set aside 1.993 billion yuan in credit impairment losses in 2024, a significant increase of 77 times from 26 million yuan in 2023.

In terms of asset quality, as of the end of 2024, the bank's non-performing loan ratio was 0.96%, down 0.13 percentage points from the end of last year; the provision coverage ratio was 322.71%, up 40.61 percentage points from the end of last year. The capital adequacy ratio was 14.93%, an increase of 0.89 percentage points from the beginning of the year.

On the other hand, Beijing Rural Commercial Bank's compliance operations also face challenges.

On January 17, the Beijing Branch of the People's Bank of China issued the first fine in 2025. Beijing Rural Commercial Bank was warned for violating anti-money laundering regulations, providing false or concealing statistical data of important facts, and a total of 9.0227 million yuan was fined a total of 586,300 yuan. At that time, Vice President Li Mouxu and seven responsible persons were fined a total of 586,300 yuan.

As the only trillion-level rural commercial bank in China that has not been listed, Beijing Rural Commercial Bank's IPO long-distance running has lasted for thirteen years and has not made other substantial progress yet. At the beginning of the year, the bank was severely punished for providing false or concealing statistical data on important facts, which may have increased the variables of passing the level.

[Editor in charge: Gao Yue PF140]