ICBC(01398)2024-10-30 08:55Financial Performance - Operating revenue for Q3 2024 was RMB 197.108 billion, an increase of 1.28% year-over-year[3] - Net profit attributable to parent company shareholders for Q3 2024 was RMB 98.558 billion, up 3.82% year-over-year[3] - Basic earnings per share for Q3 2024 were RMB 0.25, up 4.17% year-over-year[3] - Net profit for the first three quarters of 2024 reached 270.475 billion yuan, a year-on-year increase of 0.20%[16] - Operating income for the first three quarters of 2024 was 599.107 billion yuan, a year-on-year decrease of 3.92%[16] - Net profit attributable to parent company shareholders for the first nine months of 2024 was 269.025 billion yuan, slightly up from 268.673 billion yuan in the same period of 2023[24] - Basic earnings per share for the first nine months of 2024 were 0.72 yuan, unchanged from the same period in 2023[24] - Net profit for the first nine months of 2024 reached RMB 270,475 million, compared to RMB 269,929 million in the same period of 2023[25] - Total comprehensive income for the first nine months of 2024 was RMB 295,971 million, up from RMB 280,455 million in the same period of 2023[25] - Pre-tax profit for the first nine months of 2024 was RMB 308,402 million, slightly down from RMB 314,245 million in the same period of 2023[29] Asset and Liability Management - Total assets as of September 30, 2024, reached RMB 48.357755 trillion, an 8.19% increase compared to the end of 2023[3] - Total assets increased by 8.19% to 48,357.755 billion yuan, with customer loans and advances (excluding accrued interest) growing by 7.70% to 28,095.905 billion yuan[17] - Customer deposits rose by 3.20% to 34,592.836 billion yuan, with time deposits accounting for 206,932.96 billion yuan and demand deposits at 131,357.02 billion yuan[17] - Total assets as of September 30, 2024, increased to RMB 48,357,755 million from RMB 44,697,079 million at the end of 2023[26] - Customer loans and advances grew to RMB 27,326,972 million as of September 30, 2024, compared to RMB 25,386,933 million at the end of 2023[26] - Total liabilities as of September 30, 2024, rose to RMB 44,435,477 million from RMB 40,920,491 million at the end of 2023[27] - Customer deposits increased to RMB 34,592,836 million as of September 30, 2024, compared to RMB 33,521,174 million at the end of 2023[27] - Cash and balances with central banks decreased to RMB 3,748,270 million as of September 30, 2024, from RMB 4,042,293 million at the end of 2023[26] - Financial investments grew to RMB 13,291,683 million as of September 30, 2024, compared to RMB 11,849,668 million at the end of 2023[26] - Adjusted on- and off-balance sheet assets totaled RMB 50,447,695 million as of September 30, 2024, up from RMB 49,146,136 million as of June 30, 2024[38] Capital and Liquidity - Core tier 1 capital adequacy ratio stood at 13.95%, tier 1 capital adequacy ratio at 15.23%, and total capital adequacy ratio at 19.25%, all meeting regulatory requirements[18] - The company issued 50 billion yuan of perpetual capital bonds in July 2024 and 50 billion yuan and 40 billion yuan of tier 2 capital bonds in August and October 2024, respectively[19] - Core Tier 1 capital adequacy ratio as of September 30, 2024, was 13.95%, up from 13.78% at the end of March 2024[33] - Total capital adequacy ratio as of September 30, 2024, was 19.25%, slightly higher than 19.21% at the end of March 2024[33] - Leverage ratio as of September 30, 2024, was 7.71%, compared to 7.68% at the end of March 2024[33] - Liquidity coverage ratio as of September 30, 2024, was 138.20%, up from 126.61% at the end of March 2024[34] - Net stable funding ratio as of September 30, 2024, was 129.66%, slightly higher than 129.46% at the end of March 2024[34] - Risk-weighted assets increased to RMB 25,546,153 million as of September 30, 2024, up from RMB 25,123,488 million as of June 30, 2024[36] - Leverage ratio stood at 7.71% as of September 30, 2024, slightly down from 7.80% as of June 30, 2024[39] - Tier 1 capital net amount was RMB 3,889,547 million as of September 30, 2024, compared to RMB 3,832,172 million as of June 30, 2024[38] - Qualified high-quality liquid assets amounted to RMB 8,724,549 million[42] - Total expected cash outflows reached RMB 10,025,512 million[42] - Total expected cash inflows were RMB 3,710,684 million[42] - Net cash outflows stood at RMB 6,314,828 million[42] - Liquidity coverage ratio (LCR) was 138.20%[42] Shareholder and Ownership Structure - Total number of ordinary shareholders as of the reporting period end was 680,869, with 106,165 H-share shareholders and 574,704 A-share shareholders[5] - Central Huijin Investment Limited held 34.79% of the company's shares, making it the largest shareholder as of September 30, 2024[5] - The Ministry of Finance of the People's Republic of China held 31.14% of the company's shares, making it the second-largest shareholder[5] - Hong Kong Securities Clearing (Nominees) Limited held 24.18% of the company's H-shares, representing institutional and individual investors[5] Risk Management - Non-performing loan balance increased by 24.453 billion yuan to 377.955 billion yuan, with a non-performing loan ratio of 1.35%, down by 0.01 percentage points[18] - Provision coverage ratio improved to 220.30%, up by 6.33 percentage points[18] - Credit risk accounted for RMB 23,185,527 million of the total risk-weighted assets as of September 30, 2024[36] - Market risk decreased to RMB 477,675 million as of September 30, 2024, down from RMB 585,696 million as of June 30, 2024[36] - Operational risk remained constant at RMB 1,882,951 million as of both September 30, 2024, and June 30, 2024[36] - Credit valuation adjustment risk increased to RMB 43,627 million as of September 30, 2024, up from RMB 38,962 million as of June 30, 2024[36] - The minimum leverage ratio requirement remained at 4.00% as of both September 30, 2024, and June 30, 2024[39] Cash Flow and Financing Activities - Net cash flow from operating activities for the first nine months of 2024 was RMB 1.077248 trillion, a decrease of 43.57% year-over-year[4] - Operating cash flow for the first nine months of 2024 was RMB 1,077,248 million, a decrease from RMB 1,909,119 million in the same period of 2023[30] - Net cash used in investing activities for the first nine months of 2024 was RMB 1,129,281 million, compared to RMB 695,857 million in the same period of 2023[31] - Net cash from financing activities for the first nine months of 2024 was RMB 339,970 million, an increase from RMB 134,063 million in the same period of 2023[31] - Securities financing transactions' average daily balance for the quarter was RMB 1,011,189 million as of September 30, 2024, down from RMB 1,074,621 million as of June 30, 2024[39] Income and Expenses - Net interest income was 476.732 billion yuan, a year-on-year decrease of 4.94%[16] - Non-interest income was 122.375 billion yuan, a year-on-year increase of 0.31%[16] - Fee and commission net income was 90.323 billion yuan, a year-on-year decrease of 8.98%[16] - Operating expenses (excluding taxes and surcharges) were 157.269 billion yuan, a year-on-year increase of 0.37%[16] - Cost-to-income ratio was 26.25%[16] - Provision for asset impairment losses was 129.282 billion yuan, a year-on-year decrease of 12.54%[16] - Net interest income for the first nine months of 2024 was 476.732 billion yuan, a decrease from 501.526 billion yuan in the same period of 2023[23] - Credit impairment losses for the first nine months of 2024 were RMB 128,945 million, compared to RMB 147,575 million in the same period of 2023[29] Dividends and Shareholder Returns - Cash dividends for 2023 were distributed at 3.064 yuan per 10 shares, totaling approximately 109.203 billion yuan[21] Liquidity and Funding - Retail and small business customer deposits totaled RMB 1,837,437 million[42] - Unsecured wholesale funding amounted to RMB 6,259,796 million[42] - Other contractual financing obligations were RMB 87,909 million[42] - Contingent financing obligations reached RMB 108,585 million[42] - Other cash inflows were RMB 1,445,582 million[42]