交通银行(03328) - 2024 - 中期业绩

Financial Performance - Net interest income for the first half of 2024 was RMB 84,234 million, an increase of 2.24% compared to RMB 82,387 million in the same period of 2023[3]. - Net fee and commission income decreased by 14.56% to RMB 21,000 million from RMB 24,580 million year-on-year[3]. - The net profit attributable to shareholders was RMB 45,287 million, down 1.63% from RMB 46,039 million in the previous year[3]. - The annualized return on average assets was 0.65%, down from 0.69% in the same period last year[4]. - The group's pre-tax profit was RMB 47.68 billion, a decrease of 4.02% year-on-year[21]. - The bank's total operating income for the first half of 2024 was RMB 132,550 million, down from RMB 137,307 million in the first half of 2023, representing a decrease of 3.5%[137]. - The bank's net profit for the six months ended June 30, 2024, was RMB 45,825 million, compared to RMB 46,566 million in the same period of 2023, indicating a decline of 1.6%[138]. - The net profit attributable to shareholders of the parent company for the six months ended June 30, 2024, was RMB 41,770 million, a decrease of 1.8% from RMB 42,522 million in the same period of 2023[159]. Asset and Liability Management - Total assets increased by 0.84% to RMB 14,177,914 million compared to RMB 14,060,472 million at the end of 2023[3]. - Total liabilities amounted to RMB 13,058.62 billion, an increase of RMB 976.01 billion or 0.75% from the end of 2023[57]. - Customer deposits reached RMB 8,650.12 billion, up by RMB 989.01 billion or 1.16% from the end of 2023, accounting for 66.24% of total liabilities[58]. - The total equity attributable to shareholders of the parent company reached RMB 1,107,374 million, up from RMB 1,088,030 million, marking an increase of 1.06%[142]. - The company's cash and cash equivalents balance at the end of the reporting period was RMB 145.784 billion, a decrease of RMB 129.677 billion compared to the end of the previous year[61]. - The total amount of financial bonds held is RMB 487.42 billion, with policy bank bonds accounting for 15.40%[54]. Loan and Deposit Growth - Customer loans rose by 3.90% to RMB 8,267,734 million from RMB 7,957,085 million year-on-year[3]. - Customer loan balance reached RMB 8.27 trillion, an increase of RMB 310.65 billion or 3.90% compared to the end of the previous year[20]. - Customer deposit balance was RMB 8.65 trillion, up RMB 98.90 billion or 1.16% from the end of the previous year[20]. - Personal loans increased by 3.34% to RMB 2,555.798 billion, with personal consumption loans rising significantly by 26.85%[49]. - The balance of personal deposits is RMB 3,588.27 billion, which is 41.48% of total customer deposits, an increase from 39.27% at the end of 2023[59]. Capital and Risk Management - The capital adequacy ratio improved to 16.34%, up from 15.27% at the end of 2023[4]. - The non-performing loan ratio slightly decreased to 1.32% from 1.33% at the end of 2023[4]. - The group's credit impairment provision at the end of the period was RMB 223.198 billion, reflecting an increase from the previous year[51]. - The overdue loan balance for corporate loans was CNY 62.71 billion, with an overdue loan ratio of 1.15%, a decrease of 0.05 percentage points from the end of the previous year[115]. - The overdue loan balance for personal loans was CNY 56.80 billion, with an overdue loan ratio of 2.22%, an increase of 0.29 percentage points from the end of the previous year[115]. Shareholder Information - The bank's total number of ordinary shares was 74,262,726,645, with A-shares accounting for 52.85% and H-shares for 47.15%[6]. - HSBC Holdings plc holds 14,135,636,613 H shares, representing 19.03% of the total issued shares[11]. - The Ministry of Finance of the People's Republic of China owns 13,178,424,446 A shares, accounting for 17.75% of the total issued A shares[11]. - The total dividend for domestic preferred shares is 1,831,500,000 yuan, with a coupon rate of 4.07%[15]. - The bank approved a cash dividend of RMB 0.375 per share for the fiscal year 2023, totaling RMB 27,849 million, to be distributed to shareholders[134]. Strategic Initiatives - The company is actively implementing its "One Four Five" strategy to enhance service capabilities and optimize credit structure, focusing on digital transformation and product innovation[68]. - The group aims to strengthen its role in supporting the real economy and maintaining financial stability as part of its strategic goals[68]. - The company plans to strengthen innovation and leverage Shanghai's role in leading financial reforms and initiatives[130]. - The focus will be on digital transformation to enhance business development momentum and reshape financial infrastructure[130]. Market and Economic Conditions - The bank's core tier 1 capital increased by 2.42% to RMB 927,346 million from RMB 905,394 million at the end of 2023[3]. - The average yield on interest-earning assets was 3.48%, while the average cost of interest-bearing liabilities was 2.36%, resulting in a net interest margin of 1.12%[25][26]. - The average yield on corporate loans was 3.66%, down from 3.92% in the previous year, while personal loans had an average yield of 4.19%, down from 4.65%[30]. - The company reported a year-on-year increase of 2.24% in net interest income, with a net interest yield of 1.29%, down 2 basis points year-on-year[26]. Digital Transformation and Customer Engagement - The cumulative number of corporate online banking clients increased by 5.30% year-on-year, while the cumulative transaction clients grew by 9.99%[103]. - The monthly active users (MAU) of the personal mobile banking reached 45.2217 million, reflecting a year-on-year increase of 4.96%[104]. - The cumulative number of users for the "Buy Now" app reached 78.3956 million, with monthly active users at 26.5949 million[105]. - The total number of open banking interfaces reached 5,215, with over 4.8 billion calls made, and financing amount through open banking services increased by 69.36% year-on-year to 135.034 billion yuan[106]. Regulatory Compliance and Reporting - The mid-term performance announcement is based on the International Financial Reporting Standards for the 2024 interim report[194]. - The full report will be available on the Hong Kong Stock Exchange's "Disclosure Easy" website and the company's website for shareholders and investors[194]. - The 2024 semi-annual report prepared according to Chinese accounting standards will also be published on the Shanghai Stock Exchange's website[194].