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City commercial bank in Qingdao offering retail, SME and corporate banking to the coastal Shandong region.
City commercial bank in Qingdao offering retail, SME and corporate banking to the coastal Shandong region.
Earns mainly from the gap between interest on loans and what it pays on deposits, with lending to small businesses and corporates in Qingdao and wider Shandong plus a retail book. As a city commercial bank its fortunes are tied to the local economy. It is also listed in Hong Kong as 3866.HK.
In one line: A Chinese regional community bank.
Moat: narrow (regulatory licence, distribution). Local banking licence and branch network give it a deposit-funding edge in Qingdao.
Headquarters: Qingdao, Shandong, China · Founded: 1996 · Employees: 5,571
Size Bank of Qingdao (002948.SZ) is a China Financials company (Regional Banks) with a market value of $4.78B, the 528th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.24 on 6 Nov 2026.
Performance Over six months the shares gained 2.6%, against +7.1% for the median peer and -16.4% for the China market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 3.4% over the last twelve months (peer median +3.1%); the operating margin is 44.6% (peer median 45.0%).
Valuation It trades at 0.85× book value against a peer median of 1.27× (2nd cheapest of 21).
Price implies The share price implies a return on equity of about 5.0%; Bank of Qingdao delivers 12.9%, so the price asks less than the business earns today.
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥27.3B | CN¥27.1B | CN¥26.0B | CN¥24.3B | CN¥24.7B |
| Revenue growth | — | +5% | +7% | -2% | — |
| Net income | CN¥5.22B | CN¥4.95B | CN¥4.26B | CN¥3.55B | CN¥3.08B |
| Free cash flow | CN¥7.90B | CN¥7.01B | CN¥8.07B | CN¥7.79B | CN¥10.8B |
| Capital expenditure | CN¥369M | CN¥378M | CN¥372M | CN¥404M | CN¥494M |
| Total debt | CN¥262B | CN¥253B | CN¥202B | CN¥174B | CN¥144B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Bank of Qingdao 002948.SZ | $4.78B | +3% | +3% | 13% | 0.85× | 5.0% |
| Bank of Zhengzhou 002936.SZ | $2.01B | -3% | +1% | 3% | 0.34× | 2.6% |
| Xiamen Bank 601187.SS | $2.67B | -13% | 0% | 10% | 0.63× | 3.2% |
| Bank of Guiyang 601997.SS | $3.20B | -3% | -5% | 7% | 0.32× | 2.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002948.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.5% | +4.1% | 5th lowest of 21 |
| 6-month return | +2.6% | +7.1% | 6th lowest of 21 |
| Return on equity | 12.9% | 9.6% | 7th highest of 21 |
| Price / book | 0.85× | 1.27× | 2nd cheapest of 21 |
| Trailing P/E | 7.0× | 12.4× | cheapest of 19 |
| ROE the price implies | 5.0% | 9.8% | 2nd least demanding of 19 |
| ROE delivered | 12.9% | 9.6% | 6th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Bank of Qingdao 002948.SZ | China | $4.78B | +3% | +3% | 13% | 0.85× | 5.0% | 12.9% |
| Noba Bank NOBA.ST | Sweden | $4.81B | +20% | +6% | 17% | 1.82× | 6.9% | 17.0% |
| Alior Bank ALR.WA | Poland | $4.59B | +15% | -7% | 16% | 1.42× | 20.0% | 15.6% |
| Berner Kantonalbank BEKN.SW | Switzerland | $5.07B | +17% | -4% | 7% | 1.34× | n/a | 6.6% |
| ServisFirst Bancshares SFBS | United States | $4.49B | +2% | +5% | 18% | 2.21× | 17.2% | 17.9% |
| United Community Banks UCB | United States | $4.43B | +11% | -18% | 4% | 1.26× | 10.9% | 4.1% |
| Eastern Bankshares EBC | United States | $5.22B | +14% | +61% | 10% | 1.23× | 9.6% | 9.5% |
| Bendigo & Adelaide Bank BEN.AX | Australia | $4.36B | +5% | -6% | 6% | 0.93× | 11.0% | 5.6% |
| Hokuhoku Financial 8377.T | Japan | $5.25B | +53% | +27% | 10% | 1.10× | 7.7% | 9.7% |
| Grupo Financiero Galicia SA Sponsored ADR GGAL | United States | $5.36B | -30% | +3% | 2% | 0.76× | 9.6% | 2.0% |
| Intercorp Financial Services IFS | United States | $5.38B | +4% | +9% | 17% | 1.36× | 10.5% | 17.4% |
| Cathay General Bancorp CATY | United States | $4.24B | +12% | +3% | 12% | 1.39× | 11.8% | 12.2% |
| International Bancshares IBOC | United States | $4.20B | -8% | +2% | 13% | 1.25× | 9.8% | 12.9% |
| Taiwan Business Bank 2834.TW | Taiwan | $5.46B | +7% | -16% | 9% | 1.23× | 4.5% | 9.2% |
| Ameris Bancorp ABCB | United States | $5.49B | -5% | +3% | 9% | 1.33× | 12.1% | 9.5% |
| Atlantic Union Bankshares AUB | United States | $5.51B | +4% | +21% | 11% | 1.09× | 9.5% | 10.7% |
| Bank OZK OZK | United States | $5.53B | +4% | 0% | 11% | 0.93× | 8.9% | 11.3% |
| Bank Handlowy w Warszawie BHW.WA | Poland | $4.09B | +7% | -22% | 17% | 1.72× | 17.1% | 16.7% |
| Iyogin Holdings,Inc 5830.T | Japan | $5.61B | -3% | +13% | 8% | 0.91× | 8.2% | 7.8% |
| Zuger Kantonalbank ZUGER.SW | Switzerland | $4.04B | +8% | -10% | 8% | 2.03× | n/a | 8.3% |
| CVB Financial CVBF | United States | $3.99B | +12% | +23% | 9% | 1.27× | 9.8% | 8.6% |