On April 29, Bank Of Qingdao Co.Ltd(002948) released the first quarterly report of 2022, which showed that in the first quarter of this year, the bank realized a net profit attributable to the shareholders of the parent company of 786 million yuan, an increase of 21.73% year-on-year. By the end of March, the total assets of the bank were 527226 billion yuan, an increase of 0.95% over the end of 2021.
Data show that the bank’s operating revenue in the first quarter of this year was 2.677 billion yuan, a year-on-year decrease of 5.74%. In this regard, the bank said that it was mainly due to the decline of interest rates in the loan market, the superposition of factors such as reducing corporate financing costs and lower yields in the bond market, which narrowed the net interest margin and reduced the net interest income accordingly. However, with the continuous promotion of structural adjustment, the decline of net interest income gradually slowed down; In addition, net income decreased due to exchange rate fluctuations.
