2019-09-26 08:37Customer Base and Services - The Postal Savings Bank of China serves nearly 600 million personal customers and operates approximately 40,000 business outlets[7]. - The bank actively supports the real economy and participates in social responsibility initiatives, including inclusive finance and green finance[7]. - The number of personal customers reached 588.9 million, an increase of 11.09 million from the previous year, with VIP customers totaling 30.84 million, up by 2.91 million[194]. Financial Performance - Operating income for the first half of 2019 was RMB 141,704 million, an increase of 7.02% from RMB 132,408 million in 2018[87]. - Net profit for the first half of 2019 reached RMB 37,422 million, representing a growth of 14.98% compared to RMB 32,547 million in the same period of 2018[87]. - The bank distributed cash dividends of approximately RMB 15.696 billion to shareholders for the year 2018, with a payout of RMB 1.937 per 10 shares[51]. - The bank's basic and diluted earnings per share increased to RMB 0.43, up 16.22% from RMB 0.37 in 2018[87]. - The company's operating income for the same period was CNY 141.704 billion, up CNY 9.296 billion or 7.02% compared to the previous year[110]. - The net profit for the first half of 2019 was CNY 37.422 billion, representing a year-on-year growth of 14.98%[102]. Asset and Loan Growth - Total assets as of June 30, 2019, amounted to RMB 10,067,175 million, reflecting a 5.79% increase from RMB 9,516,211 million at the end of 2018[90]. - Customer loans totaled RMB 4,701,673 million, marking a 9.93% increase from RMB 4,276,865 million at the end of 2018[90]. - The total personal loans reached CNY 2,550.11 billion, increasing by CNY 230.27 billion, which is a growth of 9.93%[161]. - The balance of personal housing loans was CNY 1,567.37 billion, up CNY 149.47 billion, representing a growth of 10.54%[162]. - The total loans increased by CNY 424.808 billion, a growth of 9.93% compared to the end of the previous year[103]. Risk Management and Asset Quality - The bank emphasizes risk management with a comprehensive approach, maintaining asset quality at industry-leading levels[7]. - The non-performing loan ratio decreased to 0.82% from 0.86% at the end of 2018, indicating improved asset quality[94]. - The bank has not identified any significant risks that could adversely affect its future development strategy and operational goals[51]. Capital and Liquidity - The bank's Tier 1 capital ranked 22nd in the Global 1000 Banks by The Banker magazine in 2019[7]. - The capital adequacy ratio decreased to 12.98% from 13.76% at the end of 2018, indicating a slight reduction in capital strength[94]. - The bank's liquidity ratio was 63.55%, significantly above the regulatory standard of 25%[102]. Operational Efficiency - The cost-to-income ratio improved to 50.95%, down 4.85 percentage points from 55.80% in 2018, reflecting better operational efficiency[93]. - The company reported a total operating expense of CNY 73.222 billion, a decrease of CNY 1.548 billion or 2.07% year-on-year[111]. Strategic Initiatives - The bank has committed to enhancing its service capabilities and transitioning towards a data-driven, integrated financial service model[7]. - The bank aims to deepen reforms and innovations, focusing on specialized, integrated, lightweight, intelligent, and intensive development[7]. - The bank plans to accelerate business transformation towards a new retail model and enhance its technology capabilities[107]. - The bank is focusing on transforming its retail business by enhancing wealth management capabilities and leveraging big data for customer insights and marketing[194]. Investment and Financial Assets - Financial investments increased to RMB 3,761,871 million, up 11.05% from the end of the previous year[151]. - The total amount of bonds held by the company includes significant policy financial bonds, with the largest being RMB 85.46 billion maturing on August 31, 2025[175]. - The financial assets measured at amortized cost increased by RMB 375.12 billion, representing a growth of 13.11% compared to the end of the previous year[174]. Customer Deposits - Total customer deposits reached RMB 9,101.91 billion, an increase of RMB 473.51 billion or 5.49% compared to the end of the previous year[181]. - Personal deposits increased by RMB 452.13 billion, growing 6.05% year-on-year, while corporate deposits rose by RMB 21.33 billion, a growth of 1.84%[182].