Financial Performance - Net interest income for the first half of 2023 was RMB 4,128.6 million, a decrease of 5.0% compared to RMB 4,347.1 million in 2022[17]. - Net fee and commission income increased by 16.2% to RMB 392.2 million from RMB 337.5 million in the previous year[17]. - Total operating income for the first half of 2023 was RMB 5,255.4 million, reflecting a slight increase of 0.8% from RMB 5,212.1 million in 2022[17]. - Pre-tax profit decreased by 10.3% to RMB 1,010.7 million compared to RMB 1,127.2 million in the same period last year[17]. - Net profit attributable to shareholders for the first half of 2023 was RMB 922.1 million, down 9.9% from RMB 1,023.7 million in 2022[17]. - The group's net profit for the same period was RMB 944.3 million, representing a year-on-year decline of 9.1%[29]. - The group's operating expenses for the six months ended June 30, 2023, were RMB 1.446 billion, an increase of RMB 107 million or 8.0% year-on-year[68]. - The group's income tax expense for the six months ended June 30, 2023, was RMB 66 million, a decrease of RMB 22 million or 24.9% year-on-year, primarily due to tax exemptions on interest income from government bonds and fund dividends[81]. Asset Quality - The non-performing loan ratio increased to 2.06% from 1.82% in the previous year, indicating a deterioration in asset quality[19]. - The non-performing loan (NPL) ratio rose to 2.06% as of June 30, 2023, an increase from 1.82% at the end of 2022[147]. - The real estate sector had a non-performing loan balance of RMB 1,041.2 million, with an NPL ratio of 4.35%, up 2.41 percentage points from the end of 2022[150]. - The leasing and business services sector reported a non-performing loan balance of RMB 753 million, with an NPL ratio of 4.11%, which increased slightly by 0.01 percentage points[150]. - The wholesale and retail sector's non-performing loan balance was RMB 685 million, with an NPL ratio of 2.42%, down 0.31 percentage points from the previous year[150]. - The provision for loan impairment losses was RMB 9.65 billion as of June 30, 2023, an increase of RMB 0.88 billion or 10.1% from the end of the previous year, primarily due to increased provisioning efforts[172]. Capital and Equity - The capital adequacy ratio decreased to 12.10% from 12.62% at the end of 2022, reflecting a decline in capital strength[19]. - The bank's capital adequacy ratio, tier 1 capital ratio, and core tier 1 capital ratio were 12.10%, 10.60%, and 8.00% respectively, with the capital adequacy ratio decreasing by 0.52 percentage points compared to the end of the previous year[178]. - The bank's core tier 1 capital increased to RMB 29,664.5 million, up from RMB 28,935.4 million at the end of 2022[181]. - The total equity increased to RMB 37,139 million as of June 30, 2023, up by RMB 722 million, reflecting a growth of 2.0%[125]. - As of June 30, 2023, the total equity attributable to shareholders was RMB 36,341.2 million, an increase from RMB 35,627.6 million as of December 31, 2022, representing a growth of 2.0%[128]. Loans and Advances - Customer loans and advances totaled RMB 292.943 billion, reflecting a growth of 4.9% from the end of the previous year[27]. - The total amount of corporate loans and advances was RMB 174.70 billion, increasing by RMB 12.27 billion or 7.6% due to the group's active expansion of corporate credit[91]. - Retail loans and advances totaled RMB 96.10 billion, remaining stable compared to the end of the previous year[98]. - The total amount of discounted bills as of June 30, 2023, was RMB 22.14 billion, an increase of RMB 1.03 billion or 4.9%[102]. - The total amount of loans and advances in Jiangxi Province was RMB 243.91 billion, an increase of RMB 12.50 billion from the end of the previous year, accounting for 83.3% of the total customer loans and advances[158]. Strategic Initiatives - Jiujiang Bank was recognized as one of the first pilot support units for the National Blockchain Innovation Application Pilot Project, being one of only four city commercial banks nationwide[10]. - The bank aims to enhance its brand image by optimizing its shareholder structure and attracting strategic investors like Industrial Bank and Beijing Automotive Group[8]. - The group actively supports technological innovation and green development as part of its strategic initiatives[26]. - The bank's trade finance business saw a 74.07% year-on-year increase in settlement volume, driven by effective policy execution[190]. - New investments in key sectors such as manufacturing, inclusive finance, and green finance showed growth rates of 88.56%, 106.47%, and 129.46% respectively[190]. Awards and Recognition - In 2023, Jiujiang Bank received multiple awards, including "Core Underwriter" and "Outstanding Market Maker" for its performance in RMB financial bond underwriting[11]. - The bank was awarded the "Annual City Commercial Bank Award" at the Huaxia Institutional Investor Annual Meeting in February 2023[10]. - Jiujiang Bank has been recognized for its contributions to rural revitalization and poverty alleviation, receiving accolades for its support in these areas[13].
九江银行(06190) - 2023 - 中期财报