2024-08-29 11:12Financial Performance - In the first half of 2024, the company achieved a net profit of RMB 126.54 billion, a decrease of 0.90% year-on-year[6]. - The company's net interest income for the first half of 2024 was RMB 226.76 billion, down 3.09% from the previous year[7]. - The company reported a total operating income of RMB 317.08 billion, a slight decrease of 0.67% year-on-year[7]. - Non-interest income for the first half of 2024 was 90.316 billion RMB, a year-on-year increase of 5.99%[23]. - The group reported a decrease in net fee and commission income to 42.860 billion RMB, down 7.58% year-on-year[24]. - The total revenue for the first half of 2024 was RMB 317,076 million, a slight decrease from RMB 319,207 million in the same period of 2023, representing a year-on-year decline of approximately 0.67%[51]. - The net profit for the first half of 2024 was RMB 126.54 million, with the profit attributable to shareholders of the parent company being RMB 118.60 million[41]. - The bank's total profit for the first half of the year reached $5.037 billion, representing a year-on-year growth of 11.04%[106]. Asset and Liability Management - Total assets of the banking sector reached RMB 433.10 trillion, with total liabilities at RMB 397.66 trillion as of June 2024[4]. - Total assets reached 33,907.27 billion RMB by the end of June 2024, a growth of 4.55% from the end of last year[32]. - Total liabilities increased to 31,128.29 billion RMB, marking a 4.90% rise compared to the end of last year[32]. - Customer deposits totaled 23,630.71 billion RMB, representing 75.91% of total liabilities[33]. - The group’s equity totaled RMB 27,789.76 million as of June 30, 2024, an increase of RMB 2,216.10 million or 0.80% from the end of 2023[41]. Loan and Credit Quality - The non-performing loan balance stood at RMB 3.34 trillion, with a non-performing loan ratio of 1.56%[4]. - The average return on assets (ROA) was 0.76%, and the return on equity (ROE) was 9.58%[6]. - The group maintained a stable loan quality with a loan impairment loss of 726.84 billion RMB, an increase of 17.24% year-on-year[31]. - The non-performing loan ratio for rural banks stands at 2.17%, with a provision coverage ratio of 166.72%[111]. - The total loan amount for personal loans was CNY 5,972,677 million, with a non-performing loan rate of 0.88%[175]. Customer Loans and Deposits - Customer loan interest income increased to RMB 379.02 billion, reflecting a growth of 3.02% year-on-year due to an increase in loan scale[9]. - The total customer loans reached 211,428.30 billion RMB by the end of June 2024, an increase of 11,810.51 billion RMB or 5.92% compared to the end of last year[35]. - As of June 30, 2024, total customer loans amounted to RMB 21,142.83 million, an increase from RMB 19,961.78 million at the end of 2023, representing a growth of 5.93%[36]. - The total customer deposits increased to RMB 23,630.71 million as of June 30, 2024, reflecting a growth of RMB 723.66 million or 3.16% from the end of 2023[41]. Green Finance Initiatives - The balance of green loans reached RMB 36,659.03 billion by the end of June 2024, reflecting a year-on-year growth of 39.77%[61]. - The company ranked first among Chinese banks in underwriting domestic green bond issuance, totaling RMB 983.70 billion in the first half of 2024[62]. - The company aims to become the preferred bank for green finance services, optimizing its governance structure and support measures for green finance business[61]. - The company actively participated in significant green projects, including the largest waste-to-energy facility in the Arab region, enhancing its position in the green finance sector[61]. Digital Transformation and Technology - The bank's digital transformation efforts included the launch of new online financing products and enhancements to customer service platforms[85]. - The bank's mobile banking services expanded to cover 30 countries and regions, providing services in 12 languages[121]. - The electronic transaction amount through online channels reached CNY 172.55 trillion in the first half of the year, reflecting rapid growth in digital services[154]. - The bank has implemented 39 technology strategic projects, achieving significant progress, and the total number of cloud platform servers has reached 29,000[158]. Risk Management - The bank has established a comprehensive risk management framework, focusing on proactive and forward-looking risk management strategies[161]. - The bank is committed to improving its internal control mechanisms, with a focus on compliance and risk prevention, and is actively conducting special governance activities in high-risk areas[198]. - The bank's liquidity coverage ratio and net stable funding ratio meet regulatory requirements as of June 30, 2024[188]. - The bank emphasizes the importance of stress testing to ensure sufficient payment capacity under crisis scenarios[186]. Market Position and Competitive Advantage - The bank maintained its leading position in cross-border RMB settlement, with stable growth in transaction volumes[83]. - The bank's offshore bond underwriting market share remains the highest, having assisted the Ministry of Finance in issuing 23 billion yuan of offshore RMB government bonds in Hong Kong[102]. - The bank has maintained the leading market share in the foreign exchange settlement and sales market, with 40 currencies available for trading[101]. - The bank's wealth management business expanded its cooperation with 17 asset management companies, maintaining a leading position in the industry[90].