2023-04-28 16:00Financial Performance - The bank's net profit for Q1 2023 reached RMB 12.454 billion, representing a year-on-year increase of 5.23% compared to RMB 11.835 billion in Q1 2022[8]. - The total assets as of March 31, 2023, amounted to RMB 6,694.71 billion, reflecting a growth of 6.26% from RMB 6,300.51 billion at the end of 2022[10]. - The bank's return on equity (ROE) was 10.45%, a slight decrease of 0.08 percentage points from 10.53% in the previous year[10]. - The bank's basic earnings per share (EPS) remained stable at RMB 0.19, while diluted EPS increased by 5.88% to RMB 0.18 from RMB 0.17 in the same period last year[8]. - The total comprehensive income for the group reached RMB 13,106 million in Q1 2023, up from RMB 9,608 million in Q1 2022, representing a year-on-year increase of 36.8%[34]. Asset and Liability Management - The total liabilities amounted to RMB 6,156.34 billion, reflecting a growth of 6.32% from the previous year[16]. - The capital adequacy ratio stood at 13.24%, with a Tier 1 capital ratio of 11.32% and a core Tier 1 capital ratio of 9.09%[18]. - The liquidity coverage ratio was 120.72%, down from 130.24% at the end of the previous year[15]. - The total equity attributable to shareholders of the bank was RMB 536,164 million as of March 31, 2023, compared to RMB 507,883 million as of December 31, 2022, representing an increase of about 5.6%[31]. Loan and Deposit Growth - The bank's total loan volume increased by 3.96% compared to the end of the previous year, demonstrating a commitment to supporting the real economy[6]. - Net increase in customer deposits was RMB 205,833 million for the group in Q1 2023, compared to RMB 164,792 million in Q1 2022, reflecting a growth of 24.9%[36]. - The group reported a net increase in loans and advances of RMB (151,618) million in Q1 2023, compared to RMB (159,583) million in Q1 2022[36]. Risk Management - The bank is committed to improving its risk management framework and enhancing its ability to withstand various risks[7]. - The bank's non-performing loan balance was RMB 46.423 billion, an increase of RMB 1.749 billion compared to the end of the previous year, with a non-performing loan ratio of 1.25%[17]. - The bank's non-performing loan ratio remained stable, indicating effective risk management strategies in place[33]. Operational Efficiency - The net interest income for the period was RMB 27.403 billion, a decrease of 1.83% year-on-year[17]. - The bank's fee and commission income for the first quarter of 2023 was RMB 8,017 million, compared to RMB 8,478 million in the same period of 2022, indicating a decrease of approximately 5.4%[33]. - The investment income for the first quarter of 2023 was RMB 7,311 million, down from RMB 7,695 million in the first quarter of 2022, reflecting a decrease of about 5.0%[33]. Strategic Initiatives - The bank is focusing on digital transformation and enhancing customer value through a comprehensive financing product toolbox[6]. - The bank's wealth management business is undergoing structural adjustments to strengthen its unique offerings[7]. - The bank aims to integrate technology deeply into its operations, promoting a digital service brand and expanding its service offerings[7]. Shareholder Information - As of the end of the reporting period, the total number of shareholders was 206,553, with A shares amounting to 24,227,813,441 shares, representing 41.00% of the total[21]. - China Huarong Asset Management Co., Ltd. became a major shareholder after converting 140,186,860 convertible bonds into 4,184,682,388 A shares, now holding 7.08% of the total A shares[27]. - The major shareholders include state-owned entities and foreign corporations, with significant stakes held by China Life Reinsurance Co., Ltd. and China Everbright Group[21].