PSBC(01658)2023-09-14 22:34Financial Performance - Operating income for the first half of 2023 was RMB 177.16 billion, a year-on-year increase of 2.03% compared to RMB 173.64 billion in the same period of 2022[19]. - Net profit attributable to bank shareholders for the first half of 2023 reached RMB 49.56 billion, reflecting a year-on-year growth of 5.20% from RMB 47.11 billion in the first half of 2022[19]. - The bank's comprehensive income totalled RMB 50.79 billion, representing a year-on-year increase of 12.22%[40]. - The bank's operational philosophy is to understand the market and act proactively, ensuring compliance and prudent risk management[14]. - The bank's income from personal banking business grew by 2.59% year-on-year, accounting for 72.15% of total operating income, an increase of 0.39 percentage points[97]. Asset and Loan Growth - Total assets exceeded RMB 15 trillion, an increase of 7.51% compared to the end of the previous year[2]. - Total customer loans reached RMB 7.82 trillion as of June 30, 2023, an increase of 8.49% from RMB 7.21 trillion at the end of 2022[20]. - Customer deposits grew to RMB 13.30 trillion, marking a 4.62% increase from RMB 12.71 trillion at the end of 2022[20]. - The total loan balance in poverty alleviation areas (832 counties) reached CNY 468.67 billion, an increase of CNY 55.30 billion from the previous year[147]. - The balance of inclusive small and micro enterprise loans reached CNY 1.35 trillion, accounting for over 17% of the total customer loan amount, maintaining a leading position among state-owned banks[159]. Risk Management - Non-performing loan ratio stands at 0.81%, with a provision coverage ratio of 381.28%[2]. - The bank emphasizes a risk management system that is comprehensive, full-process, and involves all employees, enhancing its risk-leading capabilities[12]. - The bank actively implements measures to effectively manage various risks[3]. - The bank's loan-to-deposit ratio improved to 58.81%, an increase of 2.10 percentage points compared to the end of the previous year[38]. - The bank's credit card non-performing rate decreased by 0.12 percentage points to 1.83%[111]. Digital Transformation and Innovation - The bank is focusing on digital transformation and innovation, including the introduction of AI-driven customer service and new operational models[32]. - The bank launched the "U Benefit Creation" financial brand to support high-quality development of specialized and innovative enterprises[8]. - The bank is enhancing its digital service capabilities through the "C+" integrated service platform, aiming for improved customer experience and operational efficiency[99]. - The company has implemented a digital transformation strategy that integrates risk management with green finance, utilizing AI technology for dynamic monitoring of environmental benefits[183]. - The company has established a digital agricultural industry alliance to enhance financial services across the entire lychee industry chain, addressing financing, sales, and logistics challenges[157]. Customer Base and Service Expansion - The company serves over 650 million individual customers through nearly 40,000 service outlets, focusing on rural areas, urban residents, and small and medium-sized enterprises[12]. - The number of customers increased by 150,100 to 2.0845 million, with specialized and innovative enterprises growing by over 30%[31]. - The number of personal customers served reached 656 million, with assets under management (AUM) totaling CNY 14.52 trillion, an increase of CNY 632.5 billion from the end of the previous year[98]. - The bank processed a total of CNY 3.13 trillion in collected funds and CNY 9.14 trillion in paid funds, including CNY 243.17 billion in collected social security pensions and CNY 4.83 trillion in paid pensions[102]. - The company has established a unique "4-3-2-1" service model, integrating digital services to enhance inclusive financial capabilities[168]. Corporate Social Responsibility and Sustainability - The company has signed the United Nations Sustainable Blue Economy Finance Initiative in March 2023, becoming the first state-owned commercial bank in China to do so[179]. - The company has launched various green financial products, including small loans for photovoltaic equipment and clean energy projects, with a total issuance of RMB 5 billion in green financial bonds in the interbank bond market[183]. - The company has established 25 green financial institutions to support local economic green and low-carbon transformation[179]. - The company has implemented a green procurement policy, requiring suppliers to adhere to energy-saving and environmental protection agreements[183]. - The company has developed a comprehensive green banking management mechanism, optimizing its credit policies to focus on green finance and climate financing[183]. Employee Development and Welfare - The bank's corporate culture emphasizes resilience, warmth, and a commitment to employee development and satisfaction[14]. - The company has committed to enhancing employee welfare and satisfaction, focusing on improving the quality of life and addressing urgent employee needs[186]. - The company has organized multiple sports events, such as badminton and volleyball tournaments, to promote physical fitness among employees[190]. - The company emphasizes the importance of employee mental health and has established a psychological support system, including a hotline and various activities aimed at enhancing mental well-being[188]. - A specialized training program for customer service engineers is being implemented to enhance their professional and comprehensive capabilities[199].