Bank of Hangzhou approves transactions, reports strong H1 2025 results

Bank of Hangzhou announced the approval of connected transactions with its directors, supervisors, senior management, and their related parties, covering deposits, payment and settlement services, credit cards, loans, and financial product purchases. These ordinary transactions, approved by the board on August 27, 2025, are not subject to shareholder approval and are deemed not to affect the bank's independence or operations.

The bank reported strong financial results for H1 2025, with operating income increasing by 3.90% to yuan 20,093,208 thousand and net profit rising by 16.66% to yuan 11,662,296 thousand. Total assets grew by 5.83% to yuan 2,235,595,353 thousand. The bank’s common stock dividend for 2024 was yuan 0.65 per share, representing a 25% increase and a total cash dividend of yuan 4,250 million, up 38% from the previous year.

Furthermore, Bank of Hangzhou's convertible bonds were fully redeemed and delisted on July 7, 2025. A total of yuan 14,994,088 thousand in convertible bonds were converted into 1,318,802,116 shares of company stock, representing 22.24% of the shares outstanding before conversion. The first major shareholder, Hangzhou Financial Development & Investment Group Co., Ltd., increased its holdings by 90,937,529 shares through the conversion of the convertible bonds.