Financial Performance - The operating income for Q1 2023 was RMB 189,365 million, a decrease of 2.24% compared to RMB 205,857 million in the same period last year[5] - The net profit attributable to shareholders of the parent company was RMB 71,554 million, representing a 1.75% increase from RMB 70,750 million year-on-year[5] - For the three months ending March 31, 2023, the group achieved a net profit of RMB 72.115 billion, an increase of 2.83% year-on-year[14] - The group reported operating revenue of RMB 189.365 billion, a year-on-year increase of 2.24%[14] - The net profit for the first quarter of 2023 is RMB 72,115 million, up from RMB 70,132 million in the same period of 2022, representing a growth of about 2.8%[31] - The total comprehensive income for the first quarter of 2023 is RMB 60,103 million, down from RMB 64,203 million in the same period of 2022[31] Cash Flow and Liquidity - The net cash flow from operating activities surged to RMB 905,857 million, a significant increase of 146.64% compared to RMB 367,281 million in Q1 2022[6] - The significant increase in net cash flow from operating activities was primarily due to the growth in net deposits and interbank placements[6] - The bank's net cash from operating activities for the first quarter of 2023 was RMB 905,857 million, significantly higher than RMB 367,281 million in the same period of 2022[34] - The adjusted net cash outflow for the first quarter of 2023 is RMB 4,333,454 million[28] - The total expected cash inflow for the first quarter of 2023 is RMB 3,031,591 million[28] - The liquidity coverage ratio averaged 124.5% in Q1 2023, a decrease of 7.6 percentage points from the previous quarter[27] Assets and Liabilities - The total assets at the end of Q1 2023 reached RMB 36,811,547 million, reflecting an 8.51% increase from RMB 33,927,533 million at the end of the previous year[5] - As of March 31, 2023, total assets increased to RMB 36,811,547 million, up from RMB 33,925,488 million as of December 31, 2022, representing an increase of approximately 8.5%[32] - Total liabilities increased to RMB 34,078,356 million from RMB 31,251,728 million, reflecting a growth of approximately 9.0%[33] - The total customer loans and advances amounted to RMB 21,132.46 billion, up by RMB 136.86 billion or 6.92% year-on-year[15] - Customer loans and advances rose to RMB 20,285,884 million, compared to RMB 18,980,973 million at the end of 2022, marking an increase of about 6.9%[32] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 476,934, with the top two shareholders holding a combined 75.32% of shares[7] - Central Huijin Investment Ltd. held 40.03% of shares, while the Ministry of Finance of the People's Republic of China held 35.29%[7] - Cash dividends of RMB 1.936 billion were distributed to shareholders, with a dividend yield of 4.84%[20] Capital and Equity - The equity attributable to shareholders of the parent company increased to RMB 2,726,520 million, a rise of 2.19% from RMB 2,668,412 million at the end of the previous year[5] - The bank's total equity increased to RMB 2,733,191 million from RMB 2,673,760 million, reflecting an increase of about 2.2%[33] - The bank's core tier 1 capital adequacy ratio was 10.70%, down from 11.15% at the end of the previous year[25] - The leverage ratio as of March 31, 2023, is 7.05%, which is above regulatory requirements[29] Income and Expenses - Net interest income was RMB 145.607 billion, a decrease of 3.54% year-on-year, with a net interest margin of 1.70%[14] - Operating expenses rose by 5.03% year-on-year to RMB 49.921 billion, with a cost-to-income ratio of 24.52%, up 0.61 percentage points year-on-year[14] - Credit impairment losses increased by RMB 3.631 billion year-on-year to RMB 56.513 billion[14] - The bank's interest income from investment securities was RMB (72,963) million for the first quarter of 2023, compared to RMB (65,437) million in the same period of 2022, indicating a decline in interest income[34] Other Financial Metrics - The return on average equity (annualized) decreased to 12.60%, down by 0.79 percentage points from 13.39% in the previous year[5] - The annualized average total asset return rate was 0.82%, a decrease of 0.12 percentage points year-on-year[14] - The annualized weighted average return on equity was 12.60%, down 0.79 percentage points year-on-year[14] - Basic earnings per share remained flat at RMB 0.20 compared to the same period last year[14] - The weighted average number of shares for basic and diluted earnings per share remained unchanged at RMB 0.20 per share[5] - The net trading income for the first quarter of 2023 is RMB 10,174 million, compared to RMB 564 million in the same period of 2022[30]
农业银行(01288) - 2023 Q1 - 季度业绩