Bank of Chengdu(SH:601838)2023-08-30 16:00Financial Performance - The net profit for the first half of 2023 was RMB 3.5 billion, representing a year-on-year growth of 12%[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 return on equity (ROE) improved to 12%, up from 11% in the previous year[22]. - Basic earnings per share for the first half of 2023 were CNY 1.49, up 21.14% from CNY 1.23 in the same period last year[25]. - The total operating income for the first half of 2023 was 21,402,297 thousand yuan, reflecting a year-on-year growth of 15.20% compared to 18,577,619 thousand yuan in the first half of 2022[81]. Asset and Liability Management - The total assets of Bank of Chengdu reached RMB 1,200 billion, an increase of 10% compared to the previous year[22]. - Total assets as of June 30, 2023, amounted to CNY 1,028,250,661, representing a year-on-year increase of 12.05% from CNY 917,650,305[24]. - The total liabilities as of June 30, 2023, were CNY 959,939,363, reflecting a 12.11% increase from CNY 856,224,024 at the end of 2022[24]. - The bank's equity increased by 11.21% to 68,311,298 thousand yuan compared to 61,426,281 thousand yuan at the end of 2022[96]. - The adjusted on-balance and off-balance sheet assets totaled ¥1,076,753,099 thousand, up from ¥963,381,145 thousand at the end of 2022, indicating a year-over-year increase of 11.8%[11]. Loan and Deposit Growth - Customer deposits increased by 15% year-on-year, totaling RMB 800 billion[22]. - The total amount of loans and advances issued reached CNY 576,586,738, an 18.20% increase from CNY 487,826,670 at the end of 2022[24]. - The bank's total deposits reached CNY 747,608,915, reflecting a growth of 14.20% from CNY 654,652,022 at the end of 2022[112]. - The loan-to-deposit ratio improved to 79.91% as of June 30, 2023, compared to 77.57% at the end of 2022, showing an increase of 3.0%[44]. Non-Performing Loans and Risk Management - The bank's non-performing loan ratio improved to 1.5%, down from 1.8% 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%, an increase from 501.57% at the end of 2022, indicating strong risk management[33]. - The total amount of non-performing loans amounted to CNY 4.126 billion, an increase of CNY 349 million compared to the end of the previous year[137]. - The bank's focus on risk management has led to a stable improvement in asset quality[137]. Technology and Innovation - New technology initiatives include the launch of a digital banking platform aimed at increasing user engagement by 30%[22]. - The bank has allocated RMB 500 million for research and development of new financial products in 2023[22]. - The company implemented 10 IT construction projects in the first half of 2023, with 5 completed and operational[69]. Corporate Governance and Strategic Initiatives - The bank held its first extraordinary general meeting on April 24, 2023, where several key resolutions were passed, including the issuance of secondary capital bonds and changes to the company's registered capital[198][199]. - Independent directors actively participated in meetings, with attendance rates of 100% for most, ensuring compliance with corporate governance standards[195]. - The company is focused on enhancing corporate governance and protecting the rights of minority shareholders through independent oversight and decision-making processes[195][197]. - The company is actively engaging in strategic initiatives, including potential mergers and acquisitions, to expand its market presence[198]. Customer Engagement and Services - The company’s mobile banking customers reached 4.1494 million, with WeChat public account followers at 4.052 million[65]. - Payment transactions totaled 160 million, with 3.8143 million payment cards linked by the end of the reporting period[65]. - The company’s customer service satisfaction rate reached over 99.5%, with over 40% of services being automated[65].