Industrial & Commercial Bank of China Ltd. (OTCPK:IDCBY) Q3 2023 Earnings Call Transcript October 27, 2023 5:00 AM ET Company Participants Wang Liancheng - GM, Corporate Strategy and Investor Relations Department Conference Call Participants Wang Liancheng Dear investors and analysts, welcome to ICBC Q3 Earnings Call. I'm Wenwu Zhang, GM of Corporate Strategy and IR department. Today, Board Secretary [indiscernible] and other management personnel from departments and subsidiaries are here to communicate wit ...

Financial Performance - Operating revenue for Q3 2023 was RMB 203.774 billion, a decrease of 6.08% compared to RMB 216.962 billion in Q3 2022[1] - Net profit attributable to shareholders of the parent company for Q3 2023 was RMB 94.929 billion, a slight increase of 0.03% from RMB 94.896 billion in Q3 2022[1] - The company reported a net profit of RMB 268.673 billion for the first nine months of 2023, a slight increase of 0.79% from RMB 266.566 billion in the same period of 2022[1] - For the first three quarters of 2023, the net profit reached RMB 269.93 billion, a year-on-year increase of 0.81%[79] - Net profit for the first nine months of 2023 was RMB 252,360 million, a slight increase from RMB 248,106 million in the same period of 2022, representing a growth of 0.9%[105] Assets and Liabilities - Total assets as of September 30, 2023, reached RMB 44.482 trillion, representing a year-on-year increase of 12.30%[19] - Total liabilities reached CNY 40,806.945 billion, an increase of CNY 4,712.218 billion, or 13.06% compared to the end of the previous year[32] - Total equity increased to CNY 3,675.878 billion, reflecting a rise of CNY 160.459 billion, or 4.56% from the previous year[32] - The total liabilities as of September 30, 2023, amounted to RMB 38,952,250 million, an increase from RMB 34,393,656 million at the end of 2022, representing a growth of 13.5%[68] - The adjusted on-balance and off-balance sheet asset balance reached RMB 47,246,121 million, an increase from RMB 41,780,554 million in December 2022[119] Customer Deposits and Loans - Customer deposits amounted to CNY 33,980.826 billion, up CNY 4,110.335 billion, representing a growth of 13.76%[32] - Total customer loans and advances (excluding accrued interest) amounted to RMB 257,822.54 billion, up RMB 25,718.78 billion, or 11.08% year-over-year[52] - The bank's total customer deposits were RMB 33,980,826 million, reflecting a significant increase[59] - Total customer deposits increased to RMB 33,033,714 million as of September 30, 2023, compared to RMB 28,986,751 million at the end of 2022, reflecting a growth of 14.1%[68] - Customer deposits net amount reached RMB 3,953,285 million, compared to RMB 3,381,419 million in the previous year, reflecting a growth of 16.9%[112] Income and Expenses - Net interest income for the first nine months of 2023 was RMB 501.526 billion, compared to RMB 526.350 billion in the same period of 2022, reflecting a decrease[6] - Interest income for the first nine months of 2023 was RMB 991,470 million, compared to RMB 909,979 million in the same period of 2022, indicating an increase of 8.9%[70] - Non-interest income increased by 0.59% to RMB 149.742 billion, with net commission and fee income declining by 6.07% to RMB 99.231 billion[79] - The total interest income from financial investments was RMB 233,542 million, up from RMB 205,738 million in the previous year, showing an increase of 13.5%[105] Cash Flow - The net cash flow from operating activities was CNY 1,909.119 million, showing a year-on-year increase of 3.61%[39] - Cash inflow from financing activities for the first nine months of 2023 was RMB 134,063 million, a significant improvement from a cash outflow of RMB 42,813 million in the same period of 2022[65] - The net cash flow from operating activities for the first nine months of 2023 was RMB 1,909,119 million, an increase from RMB 1,842,551 million in the same period of 2022, reflecting a growth of approximately 3.6%[95] - The total cash flow from operating activities increased by RMB 107,606 million compared to the previous year, reflecting a positive trend in operational efficiency[112] Capital Adequacy and Ratios - The core Tier 1 capital adequacy ratio stood at 13.39%, meeting regulatory requirements[11] - The total capital adequacy ratio stands at 18.79%, compared to 19.26% in December 2022[119] - The leverage ratio is reported at 7.70%, slightly decreased from 8.05% in March 2023[119] - The liquidity coverage ratio is reported at 123.03%[120] Dividends and Shareholder Information - The company distributed cash dividends of CNY 1,081.69 billion for the year 2022, with a dividend of CNY 3.035 per 10 shares[34] - The proposed dividend for "ICBC Preferred 1" is RMB 20.61 billion, with a dividend rate of 4.58%[55] - The total dividend distribution for "ICBC Preferred 2" was RMB 2.94 billion, with a coupon rate of 4.2%[82] - The total number of ordinary shareholders was 668,420, with 559,736 A-share shareholders and 108,684 H-share shareholders[43] Impairment and Provisions - The provision for various asset impairment losses was RMB 147.815 billion, a decrease of 12.86% year-on-year, with loan impairment losses increasing by 2.04% to RMB 133.144 billion[79] - The company reported a decrease in impairment losses from RMB 165,729 million in 2022 to RMB 145,898 million in 2023, a reduction of 12.0%[105] Other Financial Metrics - The annualized average total asset return rate was 0.86%, and the annualized weighted average return on equity was 10.56%, down by 0.10 and 0.76 percentage points respectively[79] - The weighted average return on net assets (annualized) was 10.63%, down by 0.90 percentage points compared to the previous quarter[39] - Basic and diluted earnings per share for the first nine months of 2023 were both RMB 0.24, unchanged from the same period in 2022[89]

证券代码：601398 证券简称：工商银行 公告编号：临 2023-031 号 中国工商银行股份有限公司 董事会决议公告 中国工商银行股份有限公司董事会及全体董事保证本公告内容不存在任何虚 假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 中国工商银行股份有限公司（以下简称本行）董事会于 2023 年 10 月 27 日 在北京市西城区复兴门内大街 55 号本行总行召开会议。会议应出席董事 13 名， 亲自出席 12 名，为陈四清董事长、廖林副董事长、王景武董事、卢永真董事、 冯卫东董事、曹利群董事、陈怡芳董事、董阳董事、梁定邦董事、杨绍信董事、 胡祖六董事和陈德霖董事；委托出席 1 名，沈思董事委托杨绍信董事出席会议并 代为行使表决权。张文武副行长、段红涛副行长及监事会成员列席会议。官学清 董事会秘书参加会议。会议的召开符合法律法规、《中国工商银行股份有限公司 章程》（以下简称《公司章程》）以及《中国工商银行股份有限公司董事会议事 规则》的规定。 会议由陈四清董事长主持召开。出席会议的董事审议通过了以下议案： 一、关于资本工具计划发行额度的议案 议案表决情况：有效表决票 1 ...

中国工商银行股份有限公司 证券代码：601398 证券简称：工商银行 公告编号：临 2023-032 号 中国工商银行股份有限公司（以下简称本行）监事会于 2023 年 10 月 12 日 以书面形式发出会议通知，于 2023 年 10 月 27 日在北京市西城区复兴门内大街 55 号本行总行召开会议。会议应出席监事 3 名，亲自出席 3 名。鉴于本行监事 长空缺，监事会成员共同推举张杰监事主持会议。会议召开和议案审议程序符合 有关法律法规、《中国工商银行股份有限公司章程》及《中国工商银行股份有限 公司监事会议事规则》等规定。 会议审议通过以下议案： 三、关于《监事会对监事 2023 年度履职评价实施方案》的议案 监事会决议公告 中国工商银行股份有限公司监事会及全体监事保证本公告内容不存在任何虚 假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 议案表决情况：有效表决票 3 票，同意 3 票，反对 0 票，弃权 0 票。 特此公告。 一、关于 2023 年第三季度报告的议案 监事会审议认为，本行 2023 年第三季度报告的编制和审核程序符合有关法 律、行政法规和监管规定，报告 ...

Financial Performance - Operating income for Q3 2023 was RMB 194,614 million, a decrease of 6.61% compared to RMB 208,392 million in Q3 2022[3] - Net profit attributable to shareholders for Q3 2023 was RMB 94,929 million, a slight increase of 0.03% from RMB 94,896 million in Q3 2022[3] - In the first three quarters of 2023, the net profit reached RMB 269.93 billion, a year-on-year increase of 0.81%[16] - Total operating income was RMB 623.52 billion, a year-on-year decrease of 4.45%[16] - For the period from July to September 2023, the net profit attributable to shareholders was RMB 95,209 million, compared to RMB 94,930 million in the same period of 2022, reflecting a slight increase of 0.3%[23] - The bank reported a total comprehensive income of RMB 87,636 million for the third quarter of 2023, compared to RMB 103,932 million in the same quarter of 2022, reflecting a decline of approximately 15.7%[25] - For the nine months ended September 30, 2023, the pre-tax profit was RMB 314,245 million, a decrease of 3.8% compared to RMB 324,476 million in the same period of 2022[28] Assets and Liabilities - Total assets as of September 30, 2023, reached RMB 44,482,823 million, representing a year-on-year increase of 12.30%[3] - Total liabilities rose to RMB 40,806.95 billion, reflecting a growth of 13.06%[16] - The total liabilities as of September 30, 2023, were RMB 40,806,945 million, compared to RMB 36,094,727 million at the end of 2022, reflecting an increase of about 13.5%[27] - Customer loans and advances totaled RMB 25,782.25 billion, an increase of 11.08%[16] - Customer loans and advances amounted to RMB 25,091,461 million as of September 30, 2023, up from RMB 22,591,676 million at the end of 2022, indicating a growth of about 11.1%[26] - Total assets increased to RMB 44,482.83 billion, up 12.30% from the end of the previous year[16] Shareholder Information - The number of ordinary shareholders as of the reporting period was 668,420, with 108,684 H-share shareholders and 559,736 A-share shareholders[5] - The top shareholder, Central Huijin Investment Ltd., held 34.71% of A-shares, totaling 123,717,852,951 shares[6] - As of September 30, 2023, the National Social Security Fund Council holds a total of 19,293,357,366 shares, accounting for 5.41% of the company's total ordinary shares[6] - On October 11, 2023, Central Huijin Investment Limited increased its holdings by 27,611,989 A-shares, representing approximately 0.01% of the total share capital[8] - The company has a three-year lock-up period for shares transferred to the National Social Security Fund Council, starting from the date of transfer[6] - The report indicates that there are no known relationships or concerted actions between the preferred shareholders and the top 10 ordinary shareholders[11] - The company remains committed to maintaining transparency regarding its shareholder structure and any potential conflicts of interest[11] Earnings and Dividends - Basic and diluted earnings per share for Q3 2023 remained at RMB 0.24, unchanged from Q3 2022[3] - The cash dividend distributed for the year 2022 amounted to approximately RMB 108.17 billion, with a dividend per share of RMB 3.035[19] - The basic earnings per share for the first nine months of 2023 was RMB 0.72, unchanged from the same period in 2022[23] Capital and Ratios - The core Tier 1 capital ratio as of September 30, 2023, was 13.39%, slightly up from 13.23% at the end of 2022[32] - The total capital adequacy ratio as of September 30, 2023, was 18.79%, down from 19.26% at the end of 2022[32] - The leverage ratio as of September 30, 2023, was 7.70%, a decrease from 8.32% at the end of 2022[33] Cash Flow - Cash flow from operating activities for the first nine months of 2023 was RMB 1,909,119 million, an increase of 3.61% compared to RMB 1,842,551 million in the same period of 2022[3] - The net cash flow from operating activities for the nine months ended September 30, 2023, was RMB 1,909,119 million, an increase from RMB 1,842,551 million in the same period of 2022[29] - The net cash flow from investment activities for the nine months ended September 30, 2023, was RMB (695,857) million, compared to RMB (678,488) million in the same period of 2022[30] - The net increase in cash and cash equivalents for the nine months ended September 30, 2023, was RMB 1,347,325 million, with a closing balance of RMB 3,311,553 million[30] Financial Investments - The bank's financial investments measured at fair value increased to RMB 11,518,172 million as of September 30, 2023, from RMB 10,533,702 million at the end of 2022, marking a growth of approximately 9.4%[26] - The bank's financial investments net income for the nine months ended September 30, 2023, was RMB (18,507) million, compared to RMB (19,651) million in the same period of 2022[28] Non-Performing Loans - The non-performing loan balance was RMB 349.99 billion, with a non-performing loan ratio of 1.36%, a decrease of 0.02 percentage points[16]

证券代码：601398 证券简称：工商银行 公告编号：临 2023-030 号 中国工商银行股份有限公司 关于在 200 亿美元全球中期票据发行计划下发行多系列 中期票据刊发发售通函及定价补充文件的公告 中国工商银行股份有限公司董事会及全体董事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律 责任。 中国工商银行股份有限公司（以下简称本行）香港分行、新加坡分行、迪拜国际 金融中心分行以及卢森堡分行在 200 亿美元全球中期票据发行计划（以下简称计划） 下，已向香港联合交易所有限公司（以下简称联交所）提交由香港分行发行的于 2026 年到期的 500,000,000 美元利率为 5.375%中期票据、新加坡分行发行的于 2026 年到期 的 1,000,000,000 美元浮动利率中期票据、迪拜国际金融中心分行发行的于 2025 年到 期的 1,600,000,000 人民币利率为 3.200%中期票据以及卢森堡分行发行的于 2026 年到 期的 300,000,000 欧元利率为 4.125%中期票据（以下合称票据）的上市申请，票据已 于 2023 年 1 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任 何責任。 本公告僅供參考之用，並不構成收購、購買或認購任何證券的邀請或要約。本公告不構成或形成任何要約購買在 美國銷售的證券的一部分。除非另有規定，票據（定義見下文）未曾也將不會根據經不時修訂之1933年美國聯邦證 券法（「證券法」）進行登記，而且不得在未登記或獲豁免遵守證券法的登記規定的情況下於美國境內或向任何美國 人士（定義見證券法）或出於美國人士的利益進行發售或出售。將不會在美國進行證券的公開發售。 於香港聯合交易所有限公司 上市之通告 中國工商銀行股份有限公司 INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） 股份代號：1398 美元優先股股份代號：4620 中國工商銀行股份有限公司香港分行（「香港分行」） 於2026年到期的500,000,000美元5.375厘利率票據 （「香港分行美元票據」） （證券代號：591 ...

证券代码：601398 证券简称：工商银行 公告编号：临 2023-029 号 中国工商银行股份有限公司 关于召开 2023 年第三季度业绩说明会的公告 中国工商银行股份有限公司董事会及全体董事保证本公告内容不存在任何虚 假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法 律责任。 重要内容提示： 【英文线路】中国内地：+8610-58084166，中国香港：+852-30051313 （一）会议召开时间：2023 年 10 月 27 日（星期五）17:00-18:30 （二）会议召开方式：电话会议 1 ● 会议召开时间：2023 年 10 月 27 日（星期五）17:00-18:30 ● 会议召开方式：电话会议 ● 会议接入方式： 【中文线路】中国内地：+8610-58084199，中国香港：+852-30051355 参会密码：569446 （三）会议接入方式： 参会密码：974242 ● 投资者可于 2023 年 10 月 25 日（星期三）17:00 前将相关问题通过电子 邮件的形式发送至本行邮箱：QA@icbc.com.cn，或在会议召开时提问。 本行拟于 2023 年 10 ...

中國工商銀行股份有限公司（「本行」）董事會（「董事會」）宣佈，本行將於2023年10月27 日（星期五）舉行董事會會議，以批准本行截至2023年9月30日止九個月的業績，以及本 行優先股股息分配等事宜。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任 何責任。 中國工商銀行股份有限公司 INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED （於中華人民共和國註冊成立的股份有限公司） 股份代號：1398 美元優先股股份代號：4620 董事會會議召開日期 中國工商銀行股份有限公司 董事會 中國，北京 2023年10月17日 於本公告刊發日期，董事會成員包括執行董事陳四清先生、廖林先生和王景武先生；非執行董事盧永真先生、馮 衛東先生、曹利群女士、陳怡芳女士和董陽先生；獨立非執行董事梁定邦先生、楊紹信先生、沈思先生、胡祖六 先生和陳德霖先生。 ...

二〇二三年十月十七日 1 根据香港联合交易所有限公司上市规则第 37 章定义，专业投资者指(a)如属香港人士，按《证券及期货条例》附 表 1 第 1 部所界定的专业投资者（包括按该条例第 397 条所制定的规则所指的人士）；或(b)如属非香港人士，根 据有关司法权区对公开发售的相关豁免可向其出售证券的人士。 关于发布 200 亿美元全球中期票据发行计划发售通函的 公告 中国工商银行股份有限公司董事会及全体董事保证本公告内容不存在任何虚 假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担 法律责任。 中国工商银行股份有限公司（以下简称本行）已向香港联合交易所有限公司提交 200 亿美元全球中期票据发行计划上市申请，并于 2023 年 10 月 17 日完成上市。根据 计划，拟发行的票据仅供专业投资者1购买，详情请参考本行 2023 年 10 月 17 日刊载于 香港联合交易所有限公司"披露易"网站（www.hkexnews.hk）的相关公告。 特此公告。 中国工商银行股份有限公司董事会 证券代码：601398 证券简称：工商银行 公告编号：临 2023-028 号 中国工商银行股份有限公司 ...