Financial Performance - Total assets of the company amounted to RMB 882.8378 billion as of June 30, 2024[7] - Total customer loans and advances reached RMB 352.2373 billion as of June 30, 2024[7] - Total customer deposits stood at RMB 671.3007 billion as of June 30, 2024[7] - Net interest income increased by 12.61% to RMB 4,978.7 million in the first half of 2024 compared to the same period in 2023[10] - Net profit attributable to shareholders of the parent company rose by 29.62% to RMB 763.1 million in the first half of 2024[10] - The cost-to-income ratio decreased by 4.97 percentage points to 27.27% in the first half of 2024[10] - The average return on equity increased by 0.68 percentage points to 1.50% in the first half of 2024[10] - The net interest margin remained stable at 1.36% in the first half of 2024[10] - Total assets increased by 8.55% to RMB 882,837.8 million as of June 30, 2024, compared to RMB 813,328.7 million at the end of 2023[11] - Customer loans and advances grew by 8.99% to RMB 352,237.3 million, up from RMB 323,182.7 million at the end of 2023[11] - Customer deposits rose by 4.48% to RMB 671,300.7 million, compared to RMB 642,505.6 million at the end of 2023[11] - Net profit for the first half of 2024 increased by 20.8% to RMB 845.9 million, up from RMB 700.4 million in the same period last year[16] - Net profit attributable to parent company shareholders surged by 29.6% to RMB 763.1 million, compared to RMB 588.7 million in the same period last year[16] - Interest income increased by RMB 861.2 million (6.0%) to RMB 15,204.6 million in the first half of 2024, driven by an increase in the average balance of interest-earning assets[26][32] - Net interest income rose by RMB 557.6 million (12.6%) to RMB 4,978.7 million, primarily due to growth in interest-earning assets and a decrease in interest expenses[26][27] - Net profit increased by RMB 145.5 million (20.8%) to RMB 845.9 million, with pre-tax profit growing by 46.8% to RMB 733.9 million[26] - Customer loans and advances interest income increased by RMB 57.7 million (0.7%) to RMB 8,268.4 million, supported by expanded credit scale and reduced financing costs[28][33] - Debt securities investment interest income surged by RMB 622.4 million (301.8%) to RMB 665.4 million, reflecting higher average balances and favorable rate changes[26][31] - Net interest margin remained stable at 1.36%, while the net interest spread slightly decreased to 1.45% from 1.47% in the previous year[29] - Total interest-earning assets grew by RMB 77.9 billion (11.9%) to RMB 734.4 billion, with customer loans and advances increasing by RMB 41.4 billion (14.2%)[28][32] - Interest expenses increased by RMB 303.6 million (3.1%) to RMB 10,225.9 million, mainly due to higher customer deposits and interbank borrowing[26][29] - Credit impairment losses rose by RMB 477.5 million (12.3%) to RMB 4,363.4 million, reflecting increased provisions for potential credit risks[26] - Operating expenses decreased by RMB 167.8 million (7.4%) to RMB 2,101.4 million, driven by cost optimization efforts[26] - The company's total customer loans and advances increased to RMB 333.145 billion in 2024, with an interest income of RMB 8.268 billion and an average yield of 4.99%[34] - Debt securities investment interest income rose by 14.1% YoY to RMB 5.037 billion in H1 2024, driven by an increase in the average balance of debt securities by RMB 55.124 billion[35] - Interest income from placements with the central bank decreased by 1.9% YoY to RMB 350.5 million in H1 2024, due to a reduction in the average balance by RMB 2.356 billion[36] - Interest income from placements with other financial institutions dropped by 12.1% YoY to RMB 674.4 million in H1 2024, as the average balance decreased by RMB 21.498 billion[37] - Interest income from finance lease receivables increased by RMB 281 million YoY to RMB 874.1 million in H1 2024, with the average balance rising by RMB 5.242 billion and the average yield increasing by 1.00 percentage point[38] - Total interest expenses increased by 3.1% YoY to RMB 10.226 billion in H1 2024, driven by a rise in the average balance of interest-bearing liabilities to RMB 760.114 billion[39] - Customer deposit interest expenses grew by 0.9% YoY to RMB 8.883 billion in H1 2024, with the average balance increasing by RMB 51.746 billion[40] - Interest expenses on interbank borrowings surged by 32.2% YoY to RMB 980.6 million in H1 2024, as the average balance rose to RMB 68.663 billion[42] - Net fee and commission income decreased by 41.7% YoY to RMB 207.6 million in H1 2024, primarily due to a decline in agency and custody fees[45] - Financial investment net income surged by 301.8% YoY to RMB 665.4 million in H1 2024, driven by increased gains from the disposal of financial assets[49] - Other operating net loss decreased by RMB 0.530 billion, a decline of 59.2% year-on-year, to RMB 0.366 billion in the first half of 2024[50] - Operating expenses decreased by RMB 1.678 billion, a decline of 7.4% year-on-year, to RMB 21.014 billion in the first half of 2024[51] - Employee costs decreased by RMB 0.362 billion, a decline of 3.9% year-on-year, to RMB 8.807 billion in the first half of 2024[53] - Credit impairment losses increased by RMB 4.775 billion, a growth of 12.3% year-on-year, to RMB 43.634 billion in the first half of 2024[54] - Total assets increased by RMB 695.091 billion, a growth of 8.5% compared to the end of the previous year, to RMB 8,828.378 billion as of June 30, 2024[56] - Customer loans and advances increased by RMB 290.546 billion, a growth of 9.0% compared to the end of the previous year, to RMB 3,522.373 billion as of June 30, 2024[58] - Corporate loans increased by RMB 17.781 billion, a growth of 9.7% compared to the end of the previous year, to RMB 2,017.860 billion as of June 30, 2024[60] - Small enterprise corporate loans accounted for 43.3% of total corporate loans, amounting to RMB 87.285 billion as of June 30, 2024[61] - Small business corporate loans increased by RMB 7.97 billion, a 10.0% growth, reaching RMB 87.28 billion as of June 30, 2024[62] - Personal loans decreased by RMB 2.39 billion, a 2.0% decline, primarily due to a 3.7% drop in personal consumer loans[63] - Investment securities and other financial assets grew by RMB 16.93 billion, a 4.9% increase, totaling RMB 364.38 billion as of June 30, 2024[65] - Financial assets measured at fair value through profit or loss decreased to 23.4% of total investment securities, down from 24.7% at the end of 2023[66] - Debt investments accounted for 98.5% of total investment securities, with bond investments making up 59.7% of the total[67] - Investments in debt instruments issued by financial institutions decreased by RMB 8.31 billion, a 5.5% decline, now representing 38.8% of total investment securities[68] - Government bonds increased to 65.3% of total bond investments, up from 53.6% at the end of 2023[69] - Cash and deposits with central banks surged by RMB 36.34 billion, a 56.9% increase, reaching RMB 100.19 billion as of June 30, 2024[70] - Total liabilities increased by RMB 68.44 billion, a 9.1% growth, reaching RMB 817.88 billion as of June 30, 2024[71] - Customer deposits grew by RMB 28.80 billion, a 4.5% increase, totaling RMB 671.30 billion as of June 30, 2024[72] - Total customer deposits increased to RMB 671.3 billion as of June 30, 2024, up from RMB 642.5 billion at the end of 2023, with personal deposits accounting for 70.2% of the total[73] - Interbank deposits and borrowings rose by 26.2% to RMB 584.074 billion as of June 30, 2024, compared to the end of 2023[74] - Repurchase agreements surged by 208.4% to RMB 328.876 billion as of June 30, 2024, from the previous year-end[74] - Issued debt securities increased by 6.2% to RMB 252.002 billion as of June 30, 2024, compared to the end of 2023[75] - Total equity grew by 1.7% to RMB 649.623 billion as of June 30, 2024, with equity attributable to the parent company increasing by 1.6% to RMB 625.956 billion[76] - Off-balance sheet commitments totaled RMB 33.6648 billion as of June 30, 2024, up from RMB 31.7225 billion at the end of 2023[78] - Operating income for the six months ended June 30, 2024, is RMB 7,198.7 million, with Heilongjiang region contributing RMB 5,270.4 million (73.2%)[95][97] - Credit impairment losses for the six months ended June 30, 2024, total RMB 4,363.4 million, with the Heilongjiang region accounting for RMB 2,714.6 million[95] - Total assets as of June 30, 2024, are RMB 882,837.8 million, with the Heilongjiang region contributing RMB 681,086.2 million[95] - Total liabilities as of June 30, 2024, are RMB 817,875.5 million, with the Heilongjiang region accounting for RMB 619,926.0 million[95] - Operating profit for the six months ended June 30, 2024, is RMB 733.9 million, with the Heilongjiang region contributing RMB 1,014.7 million[95] - The company's operating expenses for the six months ended June 30, 2024, are RMB 2,101.4 million, with the Heilongjiang region accounting for RMB 1,541.1 million[95] - The company's operating income for the Heilongjiang region increased from RMB 5,093.3 million (76.5%) in 2023 to RMB 5,270.4 million (73.2%) in 2024[97] - Retail financial business revenue reached RMB 36.418 billion, accounting for 50.6% of the company's total revenue[103] - Corporate financial business revenue increased to RMB 27.229 billion, accounting for 37.8% of total revenue[98] - Corporate financial business achieved pre-tax profit of RMB 94.5 million, accounting for 12.9% of the company's total pre-tax profit, with operating income of RMB 2.7229 billion, a YoY increase of RMB 546.8 million, accounting for 37.8% of the company's total operating income[109] - Corporate deposits balance reached RMB 199.8271 billion as of June 30, 2024, with enhanced deposit stability[111] - Corporate loans totaled RMB 201.786 billion as of June 30, 2024, a 9.7% increase from the beginning of the year, accounting for 57.3% of total loans[112] - Non-interest income from corporate financial business reached RMB 35.3 million[113] - The "Bank Acceptance Bill Online Instant Discount" business under e-Rongtong achieved cumulative discounts of RMB 4.182 billion, with a discount balance of RMB 4.133 billion, an increase of RMB 3.968 billion from the beginning of the year[114] - Financial markets business achieved revenue of RMB 7.022 billion[115] - Interest income from bond investments reached RMB 3.9415 billion, with price difference income of RMB 652.3 million[116] - Investment fund balance stood at RMB 39.7956 billion, with interest income from interbank placements and loans at RMB 540.1 million[117] - Debt instruments issued by financial institutions, excluding fund investments, amounted to RMB 101.6923 billion[118] - Self-raised wealth management funds totaled RMB 25.361 billion, with outstanding self-raised wealth management products at RMB 33.486 billion[119] - Small credit balance reached RMB 203.4488 billion, accounting for 57.8% of total customer loans[120] - Small enterprise corporate loans increased by 10.0% to RMB 87.2846 billion, with a non-performing loan ratio of 3.05%[122] - Personal consumption loan balance stood at RMB 77.9379 billion[123] - Cross-border financial business asset allocation reached RMB 11.841 billion, with on-balance sheet assets increasing by RMB 6.442 billion, a growth of 125% compared to the end of the previous year[124] - Agricultural loan balance reached RMB 15.0061 billion, an increase of RMB 708.2 million from the beginning of the year[126] - Over RMB 12 billion in loans for spring plowing were issued, with new agricultural entities accounting for over 92% of the loan distribution[127] - The company's subsidiary, Ha Yin Consumer Finance, had a registered capital of RMB 1.5 billion, with the company holding a 53% stake[129] - Ha Yin Financial Leasing, another subsidiary, had a registered capital of RMB 2 billion, with the company holding an 80% stake[130] - In the first half of 2024, the company conducted 25 credit-related transactions with Ha Yin Consumer Finance, totaling RMB 6.3 billion, with a balance of RMB 6.55 billion[131] - The company conducted 15 credit-related transactions with Ha Yin Financial Leasing, totaling RMB 12.6 billion, with a balance of RMB 5.6 billion[132] - Total general related-party transactions amounted to RMB 3.835 billion, involving 135 transactions, primarily in credit, services, deposits, and other categories[133] - Credit-related transactions totaled RMB 1.36 billion across 9 transactions, including a RMB 100 million credit guarantee with Heilongjiang Student Entrepreneurship Financing Guarantee Co., Ltd[133] - Service-related transactions with Harbin Bank Consumer Finance amounted to RMB 54 million across 3 transactions[134] - Deposit-related transactions totaled RMB 2.231 billion across 121 transactions, with RMB 590 million from individual-related parties and RMB 2.12 billion from institutional-related parties[134] - The company's 30 village banks had total assets of RMB 28.069 billion, with loans decreasing by 0.51% to RMB 12.422 billion and deposits increasing by 5.41% to RMB 22.814 billion[135] - Harbin Bank Financial Leasing (Harbin Bank Leasing) reported total assets of RMB 27.135 billion, with RMB 10.724 billion in leasing business during the reporting period[136] - Harbin Bank Consumer Finance (Harbin Bank Consumer Finance) had total assets of RMB 21.48 billion, a 0.50% increase, with loan balances rising 1.02% to RMB 20.474 billion and revenue increasing 17.55% to RMB 690 million[138][139] Credit Risk and Asset Quality - Non-performing loan ratio remained stable at 2.87%, unchanged from the end of 2023[17] - Provision coverage ratio improved by 1.24 percentage points to 198.62% as of June 30, 2024[17] - Loan impairment provision ratio increased by 0.05 percentage points to 5.71% as of June 30, 2024[17] - Non-performing loan balance as of June 30, 2024, was RMB 10.1187 billion, with a non-performing loan ratio of 2.87%, unchanged from the end of the previous year[20] - Provision coverage ratio increased by 1.24 percentage points to 198.62% as of June 30, 2024, compared to the end of the previous year[20] - Total customer loans and advances reached RMB 352.2373 billion as of June 30, 2024, with normal loans accounting for 90.9% of the total[81] - Total loans increased to RMB 352.237 billion as of June 30, 2024, up from RMB 323.183 billion at the end of 2023, with a non-performing loan (NPL) ratio of 2.87%, unchanged from the previous year[83] - Corporate loans grew to RMB 201.786 billion, an increase of RMB 17.781 billion from the end of 2023, with the NPL ratio decreasing by 0.08 percentage points to 2.42%[83] - Retail loans totaled RMB 116.164 billion, with the NPL ratio rising to
哈尔滨银行(06138) - 2024 - 中期财报