Dividends and Profit Distribution - The bank reported a cash dividend of RMB 2.32 per share for the 2022 fiscal year, totaling approximately RMB 68.298 billion before tax[9]. - No interim dividend for ordinary shares will be declared for the 2023 fiscal year, and there will be no capital reserve conversion into share capital[9]. - The profit distribution policy stipulates a minimum cash dividend of 10% of the net profit attributable to ordinary shareholders, with a total cash dividend of approximately RMB 68.298 billion distributed for the year 2022[180]. - The company approved a cash dividend of RMB 2.32 per 10 shares for ordinary shares, with the distribution completed by July 14, 2023[183]. - The company plans to distribute RMB 3.285 billion in cash dividends for the third phase of domestic preferred shares at a rate of 4.50% and RMB 1.1745 billion for the fourth phase at a rate of 4.35%[183]. Financial Performance - Net interest income for the first half of 2023 reached RMB 233.99 billion, an increase from RMB 223.38 billion in the same period of 2022, reflecting a growth of 4.3%[13]. - Non-interest income increased to RMB 85.72 billion, contributing to total operating income of RMB 319.71 billion, compared to RMB 70.14 billion and RMB 293.52 billion respectively in the first half of 2022, marking a significant rise[13]. - The bank's net profit attributable to shareholders for the first half of 2023 was RMB 120.10 billion, up from RMB 119.17 billion in the same period of 2022, indicating a growth of 0.8%[13]. - The group achieved operating income of CNY 319.71 billion and net profit after tax of CNY 127.69 billion, representing year-on-year growth of 8.92% and 3.35% respectively[17]. - The group reported a net profit after tax of RMB 1,276.88 billion for the first half of 2023, with the bank's shareholders entitled to RMB 1,200.95 billion[48]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 31.09 trillion, compared to RMB 28.89 trillion at the end of 2022, representing an increase of 7.6%[13]. - Total liabilities amounted to RMB 28,423.48 billion, reflecting an increase of RMB 2,093.23 billion, or 7.95%, from the end of 2022[38]. - The group's total equity amounted to RMB 26,617.63 billion, up by RMB 984.62 billion or 3.84% compared to the end of the previous year[48]. - The total investment reached RMB 6,732.63 billion, reflecting an increase of RMB 297.38 billion or 4.62% from the end of 2022[42]. Risk Management - The bank is actively managing various risks, including credit risk from borrowers and market price fluctuations, while ensuring compliance with regulatory requirements[10]. - The bank's management is focused on risk management strategies to address macroeconomic and geopolitical risks affecting business operations[10]. - The bank's proactive risk management measures ensured stable operations amid complex market conditions, enhancing risk control capabilities[76]. - The bank is enhancing its market risk management system and has initiated a digital transformation project for market risk management[124]. Customer Loans and Deposits - The bank's total customer loans reached RMB 19.26 trillion as of June 30, 2023, an increase from RMB 17.55 trillion at the end of 2022, reflecting growth in lending activities[13]. - Customer deposits totaled RMB 22,449.31 billion, up by RMB 2,247.49 billion or 11.13% compared to the end of 2022[46]. - The average balance of customer loans increased to RMB 14,921.1 billion in the first half of 2023, up from RMB 13,137 billion in the same period of 2022, marking a growth of 13.6%[33]. - The total amount of RMB customer loans was RMB 15,831.38 billion, increasing by RMB 1,488.41 billion or 10.38% from the end of 2022[40]. Digital Transformation and Technology - The company is focusing on digital transformation in its transaction banking business, enhancing online service capabilities[62]. - The company is enhancing its digital banking capabilities, focusing on data-driven and intelligent operations to improve customer experience and operational efficiency[91]. - The company has launched a new generation of bill business systems, enhancing the efficiency of bill processing throughout its lifecycle[62]. - The bank's digital transformation in corporate finance has improved customer service levels through enhanced data mining capabilities[65]. Green Finance Initiatives - The balance of green loans exceeded CNY 2.62 trillion, growing by 31.99% compared to the end of the previous year[18]. - The bank's green credit balance in mainland China reached RMB 2,622.8 billion, representing a year-on-year growth of 51.22%[142]. - The bank has launched over ten green financial products and services, including the first "carbon reduction-linked" wind power acquisition loan in the country[142]. - The bank actively supports the green low-carbon transition of high-carbon industries and is working on carbon footprint management for its asset portfolio[142]. Governance and Compliance - The bank's board consists of 13 members, with independent directors making up one-third of the board, complying with regulatory requirements[174]. - The bank's governance practices align with the Corporate Governance Code, meeting the majority of the recommended best practices outlined in the code[172]. - The bank's governance mechanisms have been systematically reviewed and updated to comply with capital market regulations[171]. - The audit committee consists of five members, including independent directors, and has reviewed the interim performance of the company[191]. Shareholder Information - As of June 30, 2023, the total number of common shareholders is 655,571, including 485,281 A-share shareholders and 170,290 H-share shareholders[156]. - The top ten common shareholders hold a total of 64.02% of the A-shares, with Central Huijin Investment Co., Ltd. holding 188,461,533,607 shares, representing 64.02% of the total[159]. - The total number of preferred shareholders as of June 30, 2023, is 67, with 66 being domestic and 1 being foreign[161]. - The company has not disclosed any known relationships or concerted actions among the major shareholders[162].
中国银行(03988) - 2023 - 中期业绩