Dividend and Shareholder Returns - The total cash dividend proposed for the year 2023 is RMB 17.432 billion, with a distribution of RMB 3.56 per share (before tax) based on a total share capital of 48.967 billion shares [3]. - The proposed dividend distribution is subject to approval at the upcoming 2023 Annual General Meeting [4]. - The bank plans to appoint Bank of China (Hong Kong) Trust Co., Ltd. as the dividend payment agent for H-share shareholders [4]. - The proposed cash dividend for 2023 is RMB 3.56 per 10 shares, totaling RMB 17.432 billion based on a total share capital of 48.967 billion shares as of December 31, 2023 [6]. Financial Performance - Net profit attributable to shareholders for 2023 reached CNY 67.016 billion, maintaining a high growth rate [16]. - Operating income for 2023 was RMB 205,570 million, a decrease of 2.62% compared to RMB 211,109 million in 2022 [30]. - The net cash flow from operating activities for 2023 was RMB (918) million, a significant decline of 100.47% compared to RMB 195,066 million in 2022 [30]. - The basic earnings per share for 2023 was RMB 1.27, an increase of 8.55% from RMB 1.17 in 2022 [30]. - The average return on total assets (ROAA) for 2023 was 0.77%, slightly up from 0.76% in 2022 [32]. - The cost-to-income ratio for 2023 was 32.61%, an increase from 30.66% in 2022 [32]. - The net interest margin for 2023 decreased to 1.78% from 1.97% in 2022 [32]. - Net profit attributable to shareholders reached CNY 67.02 billion, representing a growth of 7.91% year-on-year [46]. Asset and Liability Management - As of the end of the reporting period, the bank has total assets exceeding RMB 9 trillion and employs over 65,000 staff [5]. - Total assets as of December 31, 2023, reached RMB 9,052,484 million, a 5.91% increase from RMB 8,547,543 million in 2022 [34]. - Total liabilities increased by 5.80% to RMB 8,317,809 million from RMB 7,861,713 million in the previous year [34]. - Customer deposits totaled RMB 5,398,183 million, reflecting a 5.86% increase from RMB 5,099,348 million in 2022 [34]. - The bank's equity attributable to shareholders reached RMB 717,222 million, a 7.79% increase from RMB 665,418 million in 2022 [34]. Risk Management - The company has not identified any significant risks that could adversely affect its future development strategies and operational goals during the reporting period [6]. - The company’s management has provided a detailed description of the main risks faced in its operations and the corresponding countermeasures taken [6]. - The bank's risk management system has improved, transitioning from a "correction period" to a "healthy period" for asset quality [12]. - The company is committed to risk control and maintaining asset quality, with a continuous improvement in non-performing loan ratios and provision coverage [15]. - The provision coverage ratio rose to 207.59% in 2023, up from 201.19% in 2022, an increase of 6.40 percentage points [36]. Strategic Initiatives - The bank aims to enhance its financial services by implementing a strategy focused on five leading areas, including wealth management and digital banking [5]. - The company aims to build a leading wealth management bank, focusing on asset management, private banking, and consumer finance [14]. - The company is actively exploring sustainable development paths that unify social and economic benefits, focusing on financial services that benefit more groups [16]. - The bank aims to enhance value creation through a "light capital, light asset, light cost" growth strategy, focusing on sustainable returns for shareholders [13]. - The company plans to enhance its digital banking capabilities to provide more precise customer insights and intelligent product matching [14]. Market Position and Brand Recognition - The bank ranked 20th in the "Top 500 Global Banking Brands" by The Banker magazine in 2023 [5]. - The bank's Tier 1 capital ranked 19th in the "Top 1000 World Banks" by The Banker magazine [5]. - The bank ranked 20th in the "Global Banking Brand 500" by The Banker, indicating improved external evaluations and expectations [10]. - The bank was recognized as a "Top 10 Bank for Social Responsibility" by Securities Star in November 2023 [29]. - The bank's "Inclusive Finance Digital Innovation Ecosystem" won the first prize in financial technology development from the People's Bank of China in December 2023 [29]. Technology and Innovation - Technology investment reached nearly 28 billion yuan over the past three years, with a compound growth rate of 17% [12]. - The bank has made significant investments in technology, including the launch of a domestic distributed core system, enhancing its fintech capabilities [45]. - The digital financial innovation ecosystem won the first prize of the People's Bank of China Gold Award, marking the second time in three years for the bank [153]. - The AI platform's daily invocation volume exceeded 14 million times, an increase of 30% since the beginning of the year [153]. - The company is enhancing its digital capabilities by upgrading its retail customer management platform and launching new mobile banking apps [145]. Customer Engagement and Growth - Customer base increased by over 30%, with more than 1,200 clients using the newly launched treasury management system "Tian Yuan Treasury" [18]. - The number of wealth management clients exceeded 14.06 million, growing by 478,390 clients or 51.55% year-on-year [147]. - The number of personal customers reached 137 million, an increase of 7.47% compared to the end of the previous year [175]. - The number of affluent and VIP customers grew to 4.2874 million, up 7.88% year-on-year [175]. - The private banking customer base increased to 74,000, reflecting a growth of 10.64% from the previous year [175]. Corporate Social Responsibility - The bank emphasizes its commitment to serving the real economy and aligning with national strategies [5]. - The company aims to support the real economy and green finance initiatives, focusing on sustainable development and environmental protection [147]. - The bank has accumulated over 800,000 users for its carbon account, achieving a cumulative reduction of over 10,000 tons of emissions [181]. - The company is actively pursuing a light capital transformation strategy, emphasizing wealth management, asset management, and comprehensive financing capabilities [136]. - The group will continue to focus on high-quality party building to guide high-quality development and emphasize service to the real economy and people's livelihoods [144].
中信银行(00998) - 2023 - 年度业绩