招商银行(03968) - 2024 - 中期业绩

Customer Deposits and Liabilities - As of June 30, 2024, total customer deposits reached RMB 866.29 billion, an increase of 6.22% compared to the end of 2023, accounting for 82.84% of total liabilities[4] - The total liabilities of the group amounted to RMB 1,045.78 billion as of June 30, 2024, compared to RMB 994.27 billion at the end of 2023[3] - The total liabilities reached RMB 10,457.76 billion, an increase of 5.18% compared to the previous year, primarily due to steady growth in customer deposits[25] - Customer deposits totaled RMB 8,662.886 billion, marking a 6.22% increase compared to the end of last year[59] Loans and Advances - The total amount of loans and advances was RMB 674.78 billion, with a year-on-year increase in various loan categories[12] - The total loans and advances amounted to RMB 6,747.80 billion, reflecting a growth of 3.67% from the previous year[28] - The total loans and advances amounted to RMB 6,747.804 billion, reflecting a growth of 3.67% year-on-year[59] - Retail loans accounted for 52.48% of total loans, with non-performing retail loans at RMB 32.04 billion, resulting in an NPL ratio of 0.90%[12] Asset Quality and Non-Performing Loans - Non-performing loans (NPL) amounted to RMB 63.43 billion, with an NPL ratio of 0.94%, a slight decrease of 0.01 percentage points from the end of 2023[11] - The proportion of normal loans was 97.82% of total loans, while the proportion of attention loans increased to 1.24%[10] - The non-performing loan (NPL) ratio was 0.94%, a decrease of 0.01 percentage points from the end of the previous year[78] - Credit impairment losses decreased by 13.30% to RMB 26.928 billion, reflecting improved asset quality[93] Financial Performance - The group achieved operating net income of RMB 172.92 billion for the first half of 2024, a decrease of 3.11% year-on-year[74] - The pre-tax profit for the first half of 2024 was RMB 89.64 billion, down 1.37% from the same period in 2023[74] - The net profit attributable to shareholders was RMB 74.74 billion, a decrease of 1.33% year-on-year[74] - Net interest income accounted for 60.40% of total income, while non-interest net income increased by 0.67 percentage points year-on-year to 39.60%[61] Capital Adequacy and Risk Management - The core tier 1 capital adequacy ratio, tier 1 capital adequacy ratio, and capital adequacy ratio were 11.64%, 13.51%, and 14.60% respectively at the end of the reporting period[57] - As of the reporting period, the company's core Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio, and total capital adequacy ratio were 13.86%, 16.09%, and 17.95%, respectively, an increase of 0.13, 0.08, and 0.07 percentage points compared to the end of the previous year[172] - The leverage ratio decreased to 7.88% from 8.26%, a decline of 0.38 percentage points[175] - The company has consistently met capital and leverage regulatory requirements throughout the reporting period[194] Investment and Securities - The total amount of financial investments measured at fair value and recognized in profit or loss was RMB 579.23 billion, an increase from RMB 526.15 billion as of December 31, 2023, representing a growth of 10.06%[18] - The total bond investment amounted to RMB 2,928.55 billion as of June 30, 2024, up from RMB 2,844.69 billion at the end of 2023, marking a growth of 2.94%[22] - The company has actively expanded its bond investment scale while increasing trading operations, resulting in favorable returns amid a stable funding environment and declining bond yields[18] - The group’s investment securities and other financial assets amounted to RMB 3,350.388 billion, representing 28.95% of total assets[97] Operating Expenses and Income - Operating expenses amounted to CNY 56.34 billion, a slight decrease of 0.05% year-on-year[119] - The cost-to-income ratio was 29.75%, an increase of 0.68 percentage points year-on-year[119] - Total net fee and commission income was CNY 38.33 billion, representing an 18.61% decrease year-on-year[116] - Wealth management fees and commissions decreased by 32.51% year-on-year to CNY 11.44 billion[117] Shareholder Information and Governance - The company held a shareholders' meeting on June 25, 2024, where 14 proposals were approved, including the 2023 annual profit distribution plan[143] - The first major shareholder, China Merchants Group, holds 29.97% of the company's shares, with China Merchants Shipping Company directly owning 13.04%[162] - The company actively promotes sustainable development across various sectors, including inclusive finance and green finance, as part of its governance structure[141] - The company has no significant guarantees outside of its approved business scope during the reporting period[156]