2024-10-30 08:45Financial Performance - Revenue for the reporting period was RMB 161.272 billion, a year-on-year increase of 6.51%[4] - Net profit for the reporting period was RMB 60.953 billion, a year-on-year increase of 3.64%[4] - Net profit for the first three quarters of 2024 reached RMB 1,874.89 billion, with a year-on-year growth of 0.53%[14] - Revenue for Q3 2024 reached RMB 161.272 billion, a 6.5% increase compared to RMB 151.419 billion in Q3 2023[23] - Net profit attributable to shareholders for Q3 2024 was RMB 57.162 billion, up 4.4% from RMB 54.763 billion in Q3 2023[23] - Total revenue for the first nine months of 2024 was RMB 478.348 billion, a 1.6% increase from RMB 470.626 billion in the same period of 2023[23] - Net profit for the first nine months of 2024 was RMB 187.489 billion, slightly up by 0.5% from RMB 186.503 billion in the same period of 2023[23] - The company's comprehensive income for the first nine months of 2024 reached RMB 216,090 million, compared to RMB 205,919 million in the same period of 2023, reflecting a growth of 4.9%[24] Assets and Liabilities - Total assets as of the end of the reporting period were RMB 34.068988 trillion, a year-on-year increase of 5.05%[4] - Total assets as of September 30, 2024, amounted to RMB 340,689.88 billion, an increase of 5.05% compared to the end of the previous year[16] - Total assets of Bank of China Group increased to CNY 34,068,988 million as of September 30, 2024, up from CNY 32,432,166 million at the end of 2023[20] - Total liabilities of Bank of China Group increased to CNY 31,195,005 million as of September 30, 2024, up from CNY 29,675,351 million at the end of 2023[21] - Total equity of Bank of China Group increased to CNY 2,873,983 million as of September 30, 2024, up from CNY 2,756,815 million at the end of 2023[21] - Total assets of Bank of China (excluding group) increased to CNY 29,694,324 million as of September 30, 2024, up from CNY 28,332,864 million at the end of 2023[20] Cash Flow - Net cash flow from operating activities for the first nine months of 2024 was RMB 1,681.39 billion, a decrease of 65.41% compared to the same period last year[7] - The net cash flow from operating activities for the first nine months of 2024 was RMB 168,139 million, a significant decrease from RMB 486,159 million in the same period of 2023[25] - The net cash flow from investing activities for the first nine months of 2024 was negative RMB 816,714 million, compared to negative RMB 278,812 million in the same period of 2023[25] - Cash inflows from financing activities increased to 1,060,344 million in the first nine months of 2024, up from 843,376 million in the same period of 2023[26] - Cash outflows from financing activities rose to 935,338 million in the first nine months of 2024, compared to 868,167 million in the same period of 2023[26] - Net cash flow from financing activities turned positive at 125,006 million in the first nine months of 2024, a significant improvement from a negative 24,791 million in the same period of 2023[26] - Cash and cash equivalents decreased by 527,520 million in the first nine months of 2024, compared to an increase of 209,515 million in the same period of 2023[26] - The ending balance of cash and cash equivalents stood at 1,989,205 million as of September 2024, down from 2,300,981 million in September 2023[26] Shareholders and Dividends - The total number of ordinary shareholders as of September 30, 2024, was 595,281, including 429,899 A-share shareholders and 165,382 H-share shareholders[9] - Central Huijin Investment Co., Ltd. is the largest shareholder with a 64.13% stake in the company[9] - The company declared a cash dividend of RMB 2.364 per 10 shares for ordinary shares, totaling RMB 695.93 billion[18] - The company distributed a total of RMB 11.745 billion in dividends for domestic preferred shares, with a dividend rate of 4.35%[18] - Dividend payments to ordinary shareholders amounted to 69,593 million in the first nine months of 2024, slightly higher than 68,298 million in the same period of 2023[26] Income and Expenses - Net interest income decreased by RMB 169.75 billion, a decline of 4.81%, with a net interest margin of 1.41%[15] - Non-interest income increased by RMB 246.97 billion, a growth of 20.99%, accounting for 29.76% of operating income[15] - Net interest income for Q3 2024 was RMB 109.237 billion, down 8.2% from RMB 118.980 billion in Q3 2023[23] - Net fee and commission income for Q3 2024 rose to RMB 17.833 billion, up 6.2% from RMB 16.797 billion in Q3 2023[23] - Investment income for Q3 2024 surged to RMB 17.566 billion, a 161.2% increase from RMB 6.725 billion in Q3 2023[23] - Operating profit for Q3 2024 was RMB 71.751 billion, a 4.8% increase from RMB 68.485 billion in Q3 2023[23] - Credit impairment losses for Q3 2024 decreased to RMB 25.216 billion, down 17.3% from RMB 30.506 billion in Q3 2023[23] - Net profit attributable to minority interests for Q3 2024 was RMB 3.791 billion, a 6.4% decrease from RMB 4.052 billion in Q3 2023[23] - The company's other comprehensive income after tax for the first nine months of 2024 was RMB 28,601 million, up from RMB 19,416 million in the same period of 2023[24] Loans and Deposits - Customer deposits totaled RMB 237,106.30 billion, a growth of 3.51% compared to the end of the previous year[16] - Total customer loans reached RMB 214,359.28 billion, an increase of 7.38% compared to the end of the previous year[16] - Non-performing loan ratio stood at 1.26%, a decrease of 0.01 percentage points compared to the end of the previous year[16] - Customer deposits of Bank of China Group grew to CNY 23,710,630 million as of September 30, 2024, compared to CNY 22,907,050 million at the end of 2023[21] - Loans and advances issued by Bank of China Group grew to CNY 20,899,320 million as of September 30, 2024, compared to CNY 19,476,871 million at the end of 2023[20] - The net increase in customer deposits and interbank deposits for the first nine months of 2024 was RMB 1,506,392 million, down from RMB 2,480,512 million in the same period of 2023[25] - The net increase in loans and advances for the first nine months of 2024 was RMB 1,502,375 million, compared to RMB 2,223,481 million in the same period of 2023[25] Financial Investments - Financial investment totaled RMB 78,962.29 billion, a growth of 10.30% compared to the end of the previous year[17] - Financial investments of Bank of China Group rose to CNY 7,896,229 million as of September 30, 2024, from CNY 7,158,717 million at the end of 2023[20] Other Financial Metrics - The weighted average return on equity (annualized) for the reporting period was 9.45%, a decrease of 0.37 percentage points year-on-year[4] - The company's non-recurring gains and losses for the reporting period amounted to RMB 25 million[6] - The company's basic and diluted earnings per share for the reporting period were RMB 0.19, a year-on-year increase of 4.38%[4] - The company's basic and diluted earnings per share for the first nine months of 2024 were RMB 0.55, unchanged from the same period of 2023[24] - The net cash received from interest, fees, and commissions for the first nine months of 2024 was RMB 742,515 million, up from RMB 726,872 million in the same period of 2023[25] - The net cash paid for interest, fees, and commissions for the first nine months of 2024 was RMB 392,048 million, compared to RMB 358,837 million in the same period of 2023[25] - The net cash received from other operating activities for the first nine months of 2024 was RMB 561,964 million, a significant increase from RMB 164,018 million in the same period of 2023[25] - The company issued bonds worth 1,030,346 million in the first nine months of 2024, up from 813,314 million in the same period of 2023[26] - The company redeemed other equity instruments worth 40,000 million in the first nine months of 2024, with no such activity in the same period of 2023[26] - The impact of exchange rate changes on cash and cash equivalents was a negative 3,951 million in the first nine months of 2024, compared to a positive 26,959 million in the same period of 2023[26] Miscellaneous - The 2024 third quarter report is available on the Shanghai Stock Exchange website (www.sse.com.cn) and the company's website (www.boc.cn)[28]