Dividends and Shareholder Returns - The board proposed a cash dividend of RMB 1.208 per 10 shares for the 2024 interim period, subject to shareholder approval[7]. - The total cash dividend for the 2023 fiscal year was approximately RMB 69.593 billion, distributed at RMB 2.364 per 10 shares[6]. - The group issued cash dividends of RMB 695.93 billion for the fiscal year 2023, as approved by the shareholders' meeting[59]. Financial Performance - Net interest income for the first half of 2024 was RMB 226,760 million, a decrease of 3.5% compared to RMB 233,992 million in the same period of 2023[13]. - Non-interest income increased to RMB 91,169 million, up 6.4% from RMB 85,715 million year-on-year[13]. - Total operating income for the first half of 2024 was RMB 317,929 million, a slight decrease of 0.2% from RMB 319,707 million in the first half of 2023[13]. - The net profit attributable to shareholders for the first half of 2024 was RMB 118,601 million, down 1.2% from RMB 120,095 million in the same period of 2023[13]. - The group achieved operating income of CNY 317.929 billion and a net profit after tax of CNY 126.536 billion in the first half of 2024[17]. - The group achieved a net profit of RMB 126.54 billion in the first half of 2024, a decrease of 0.90% year-on-year[27]. Assets and Liabilities - Total assets as of June 30, 2024, reached RMB 33,907,267 million, an increase of 4.5% from RMB 32,432,166 million at the end of 2023[13]. - Customer loans totaled RMB 21,142,830 million, up 5.9% from RMB 19,961,779 million at the end of 2023[13]. - Customer deposits increased to RMB 23,630,706 million, a rise of 3.2% from RMB 22,907,050 million at the end of 2023[13]. - Total liabilities reached CNY 31,128.29 billion, an increase of CNY 1,452.94 billion or 4.90% from the end of the previous year[45]. - The group's total equity amounted to RMB 27,789.76 billion, reflecting an increase of RMB 221.61 billion or 0.80% compared to the end of the previous year[59]. Risk Management - The company is actively managing various risks, including credit risk from borrowers and market price fluctuations, while ensuring compliance with regulatory requirements[8]. - The company emphasizes the importance of risk awareness regarding macroeconomic conditions and geopolitical changes affecting its operations[8]. - The non-performing loan ratio remained stable at 1.24% as of June 30, 2024, unchanged from the end of 2023[13]. - The non-performing loan coverage ratio was 201.69% as of June 30, 2024, demonstrating strong risk management capabilities[21]. - The company is focusing on risk management by establishing a comprehensive risk management framework and enhancing proactive risk identification and response capabilities[153]. Capital Adequacy - The core tier 1 capital adequacy ratio improved to 12.03% from 11.63% at the end of 2023[13]. - The capital adequacy ratio stood at 18.91%, indicating a solid capital position[21]. - As of June 30, 2024, the capital adequacy ratio of the group was 18.91%, maintaining a stable and reasonable level, in line with the group's "14th Five-Year Plan" goals[192]. - The total capital adequacy ratio rose to 18.91% from 17.74% during the same period[193]. Green Finance Initiatives - The balance of green credit increased by 39.77% year-on-year, reflecting the company's commitment to sustainable finance[18]. - The company ranked first among Chinese banks in underwriting domestic green bond issuance, with a scale of 98.37 billion yuan in the first half of the year[72]. - The company launched the first natural benefit commercial ESG-linked loan in the country during the first half of the year[73]. - The company established 389 green finance specialty outlets to enhance competitiveness in green finance[75]. Digital Transformation and Innovation - The bank is advancing its digital transformation strategy, enhancing mobile banking functionalities to improve customer online payment experiences[126]. - The company is fostering a strong innovation atmosphere by promoting new technology applications and conducting competitions for innovative solutions[151]. - The bank is enhancing its digital transformation by integrating data-driven, intelligent, and ecological approaches into product design and service operations, aiming for seamless online service delivery[127]. International Presence and Cross-Border Services - The bank has established 546 overseas branches covering 64 countries and regions, including 44 countries involved in the Belt and Road Initiative[113]. - The bank actively promoted the internationalization of the RMB, hosting various events to support its development in Latin America and other regions[88]. - The bank's overseas institutions have seen stable growth in international settlement and cross-border RMB settlement businesses[116]. Customer and Market Development - The bank's total individual customer base in mainland China surpassed 531 million, marking a 1.19% increase from the end of the previous year[92]. - The number of clients for inclusive small and micro enterprise loans exceeded 1.3 million, with a loan balance of 2.09 trillion yuan, an increase of 18.94% compared to the end of the previous year[76]. - The bank's wealth management business has partnered with 17 asset management companies, maintaining a leading position in the industry[94]. Compliance and Internal Control - The company is enhancing its internal control and risk management mechanisms, focusing on compliance culture and continuous improvement of internal control systems[186]. - The company has established a three-line defense system for internal control, with business departments as the first line of defense[185]. - The bank has implemented a comprehensive liquidity risk management strategy, enhancing the forward-looking and scientific nature of liquidity risk management[178].
中国银行(03988) - 2024 - 中期财报