Jilin Jiutai Rural Commercial Bank Corporation Limited has issued a profit warning, forecasting net losses for the year ending December 31, 2024, to be between RMB1,700 million and RMB1,900 million. The losses are attributed to the bank's proactive measures in reducing fees and providing concessions to support the real economy, which have led to a decrease in interest income compared to the previous year. Additionally, the challenging external economic environment has pressured certain industries and customers. In response, the bank has implemented more stringent risk classification of assets and increased provisions to bolster risk resistance. Despite these challenges, the bank aims to capitalize on the opportunities presented by macroeconomic recovery.
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