Bank of Chengdu(SH:601838)2023-08-29 16:00Financial Performance - The net profit for the first half of 2023 was RMB 3.5 billion, representing a year-on-year growth of 8%[22]. - The operating income for the first half of 2023 reached CNY 11,109,888, an increase of 11.16% compared to CNY 9,994,713 in the same period of 2022[24]. - Net profit for the first half of 2023 was CNY 5,576,447, reflecting a growth of 25.10% from CNY 4,457,481 in the previous year[24]. - The bank's total operating income for the first half of 2023 was 21,402,297 thousand yuan, reflecting a year-on-year growth of 15.20% from 18,577,619 thousand yuan[81]. - Chengdu Bank reported a significant increase in net profit for the first half of 2023, reaching CNY 2.5 billion, representing a year-on-year growth of 15%[194]. - The bank's earnings guidance for the full year 2023 is projected to be between CNY 5 billion and CNY 5.5 billion, indicating continued growth momentum[194]. Asset Quality - The non-performing loan ratio improved to 1.5%, down from 1.7% in the same period last year[22]. - The non-performing loan ratio improved to 0.72% as of June 30, 2023, down from 0.78% at the end of 2022[33]. - The provision coverage ratio stood at 511.86% as of June 30, 2023, compared to 501.57% at the end of 2022[33]. - The non-performing loan ratio improved to 0.72%, down 0.06 percentage points from the previous year[72]. - The bank maintained a stable asset quality, with a focus on controlling new risks and resolving existing ones[137]. Customer Deposits and Loans - Customer deposits increased by 12% year-on-year, totaling RMB 900 billion[22]. - Total deposits amounted to CNY 747.61 billion, up CNY 92.96 billion or 14.20% year-on-year[71]. - The total amount of loans and advances issued reached CNY 576,586,738, an 18.20% increase from CNY 487,826,670 in the previous year[24]. - The bank's total deposits reached CNY 747,608,915, reflecting a growth of 14.20% year-over-year[112]. - The corporate loan balance increased to CNY 460,022,262, with a reduced NPL ratio of 0.75% compared to 0.83% at the end of 2022[100]. Technology and Innovation - Chengdu Bank is investing RMB 500 million in technology upgrades, including digital banking solutions and cybersecurity[22]. - The bank has launched a new mobile banking app, which has already attracted 1 million downloads within the first month[22]. - The bank has allocated CNY 300 million for research and development of new financial technologies, focusing on digital banking solutions[196]. - The company has initiated a strategic partnership with a fintech company to enhance its digital payment services, aiming for a 30% increase in transaction volume by 2024[199]. Branch Expansion and Market Presence - The bank plans to expand its branch network by 15% in the next year, focusing on underserved regions[22]. - Chengdu Bank plans to expand its market presence by opening 10 new branches in key urban areas by the end of 2023[199]. - The company has a total of 247 branches, including 14 branches and 31 directly affiliated sub-branches as of June 30, 2023[133]. Risk Management - The bank's credit risk management strategies include enhancing internal management and multi-channel risk resolution methods[137]. - Measures taken to mitigate credit risk include enhancing credit system construction and optimizing credit risk management architecture[171]. - The company has maintained liquidity risk management within a comprehensive risk management framework, ensuring timely access to sufficient funds[174]. Awards and Recognition - Chengdu Bank has received multiple awards for its service quality and innovation in financial products during the reporting period[21]. Shareholder Information - The company held its first extraordinary general meeting of shareholders on April 24, 2023[200]. - The annual general meeting of shareholders is scheduled for June 27, 2023[200]. - Changes in the board included the resignation of shareholder supervisor Han Xuesong on January 17, 2023, due to work reasons[200].