Dividends and Profit Distribution - The company declared a cash dividend of RMB 2.21 per share for the fiscal year 2021, totaling approximately RMB 65.06 billion before tax[6]. - The company did not declare an interim dividend for ordinary shares for 2022[6]. - The company approved a cash dividend of approximately RMB 3.285 billion (pre-tax) for the third phase of domestic preferred shares, with a dividend rate of 4.50% (pre-tax)[149]. - The second phase of overseas preferred shares had a total dividend payout of approximately USD 10.15 million (after tax), with a dividend rate of 3.60% (after tax)[148]. - The profit distribution policy mandates a cash dividend of no less than 10% of the net profit attributable to ordinary shareholders, provided the company is profitable and has positive retained earnings[145]. - The company strictly adhered to its articles of association and dividend distribution policies in the payment of dividends during the reporting period[147]. - The company has maintained a transparent and compliant process for its profit distribution policy, ensuring the protection of minority shareholders' rights[145]. Financial Performance - Net interest income for the first half of 2022 was RMB 223,993 million, an increase of 7.3% compared to RMB 208,773 million in the same period of 2021[10]. - Non-interest income decreased to RMB 89,618 million, down 4.9% from RMB 94,082 million year-on-year[10]. - Total operating income reached RMB 313,611 million, reflecting a growth of 3.8% from RMB 302,855 million in the first half of 2021[10]. - The bank's net profit attributable to shareholders was RMB 119,924 million, representing a year-on-year increase of 6.3% from RMB 112,813 million[10]. - Net profit after tax was CNY 124.303 billion, reflecting a growth of 4.86% compared to the previous year[14]. - The average return on total assets was 0.91%, slightly down from 0.93% in the same period last year[10]. - The total revenue for the first half of 2022 was RMB 313.61 billion, an increase from RMB 302.86 billion in the same period of 2021[39]. Risk Management - The company is actively managing various risks, including credit risk and market price fluctuations, in response to macroeconomic conditions[7]. - The company is committed to compliance with regulatory requirements while managing operational risks[7]. - The company has faced risks from changes in the political and economic landscape across different countries and regions[7]. - The company has implemented measures to effectively manage various types of risks[7]. - The bank's focus on digital transformation in risk management is aimed at enhancing emergency response capabilities and establishing a multi-level risk early warning system[87]. - The bank has strengthened credit risk management policies, aiming to improve the proactive and forward-looking nature of risk management[87]. Asset and Liability Management - Total assets as of June 30, 2022, amounted to RMB 28,052,758 million, an increase from RMB 26,722,408 million at the end of 2021[11]. - Total liabilities amounted to CNY 25,608.006 billion, growing by 5.07% year-on-year[14]. - The capital adequacy ratio stood at 16.99%, an increase from 16.53% at the end of 2021[11]. - The bank's total equity as of June 30 was RMB 2,444.75 billion, reflecting an increase of RMB 94.20 billion or 4.01% from the end of the previous year[35]. - The leverage ratio as of June 30, 2022, was 7.58%, slightly down from 7.65% at the end of 2021[107]. Customer Loans and Deposits - Customer loans totaled RMB 16,953,221 million, up from RMB 15,712,574 million at the end of 2021, indicating a growth of 7.9%[11]. - The non-performing loan ratio remained stable at 1.34%, unchanged from the end of 2021[11]. - Total customer deposits reached RMB 19,548.23 billion, an increase of RMB 1,405.34 billion or 7.75% compared to the end of the previous year[32]. - The average balance of customer loans in mainland China was CNY 13.14 trillion, with an average interest rate of 4.34%, reflecting a year-on-year increase of CNY 1.35 trillion[24]. Digital Transformation and Innovation - The company has actively expanded its digital transformation efforts, leveraging technologies such as big data, cloud computing, and artificial intelligence[42]. - The bank is focusing on digital transformation to provide high-quality digital services and enhance customer experience[68]. - The bank's digital transformation strategy focuses on eight key digital capabilities to enhance customer insight and operational efficiency[52]. - The bank applied for 1,801 patents and received 272 authorizations in the first half of the year, indicating a strong focus on financial technology innovation[86]. Corporate Governance - The company emphasizes the importance of corporate governance and compliance with capital market regulations, continuously improving governance practices[138]. - The board of directors consists of 15 members, including 3 executive directors, 5 non-executive directors, and 6 independent directors, with independent directors making up one-third of the board[138]. - The company has strengthened the protection of shareholders' rights to information, participation, and decision-making during the reporting period[138]. - The company has proposed to appoint external auditors for the 2022 fiscal year and has approved the 2021 profit distribution plan[138]. Social Responsibility and Community Engagement - The bank supported 203 organizations in 111 charitable donation activities, raising a total of CNY 7.9556 million in the first half of 2022[115]. - The bank invested CNY 39.8 million in four targeted poverty alleviation counties, benefiting over 450,000 people through various support projects[114]. - The bank issued a total of CNY 25.2 billion in student loans, supporting over 1.8 million economically disadvantaged students[115]. - The bank aims to further promote the development of the sports industry and support the national strategy for a healthy China[116].
中国银行(03988) - 2022 - 中期财报