Bank of Shanghai’s net profit increased by 1.19% last year and provision coverage ratio decreased

Evening of March 22, Shanghaibank(601229.SH)’s 2023 performance report announcement shows that in 2023, ShanghaibankAchieved operating income of 50.5 billion yuan, a year-on-year increase of 1.19%. Net profit reached 22.545 billion yuan, an increase from last year. However, provision coverage declined.

Shanghaibank2023 annual performance report

According to ShanghaibankIn the 2023 annual performance report, the bank has achieved solid operating income growth over the past year. This shows that ShanghaibankMaintained good business performance in a highly competitive financial market.

Net profit reached 22.545 billion yuan

ShanghaibankLast year's net profit reached 22.545 billion yuan, an increase from the previous year. This demonstrates the bank's solid profitability while effectively managing risks and costs.

Provision coverage ratio fell

Although ShanghaibankPositive results were achieved in terms of operating income and net profit, but provision coverage declined. This may require the bank to strengthen risk management and provisioning plans to ensure stable business development in the future.

• ShanghaibankThe 2023 annual performance report shows operating income reaching 50.5 billion yuan
• Net profit reached 22.545 billion yuan, a year-on-year increase of 1.19%
• Provision coverage ratio has declined and risk management needs to be strengthened