Financial Performance - Bank of China reported its audited financial results for the year ending December 31, 2023[1]. - The company's operating income for 2023 was RMB 586,461 million, a decrease from RMB 619,139 million in 2022[13]. - The net profit after tax for 2023 was RMB 236,725 million, compared to RMB 237,504 million in 2022[13]. - Basic earnings per share for 2023 were RMB 0.72, slightly down from RMB 0.73 in 2022[13]. - The average return on total assets for 2023 was 0.85%, unchanged from 2022[13]. - The company reported a cost-to-income ratio of 28.92% for 2023, an increase from 27.88% in 2022[13]. - The net interest margin for 2023 was 1.75%, down from 1.76% in 2022[13]. - Non-interest income for 2023 reached RMB 157,593 million, an increase of 23.8% from RMB 127,195 million in 2022[14]. - Operating profit for 2023 was RMB 294,643 million, up 4.1% from RMB 282,996 million in 2022[14]. - The net profit attributable to shareholders for 2023 was RMB 231,904 million, representing an increase of 2.0% from RMB 226,522 million in 2022[14]. Risk Management - The company is actively managing various risks, including credit risk and operational risk, in response to macroeconomic conditions[12]. - The non-performing loan ratio for 2023 was 1.32%, consistent with the previous year[13]. - The coverage ratio for non-performing loans improved to 191.66% in 2023, compared to 188.73% in 2022[14]. - The group maintained a healthy credit structure, with 97.27% of loans classified as "normal" as of December 31, 2023, compared to 97.33% the previous year[157]. - The group is actively enhancing risk management capabilities, focusing on digital transformation and intelligent risk control to improve early identification and response to risks[156]. Strategic Focus and Development - The bank aims to enhance its global layout and market competitiveness while focusing on risk prevention and control[3]. - The bank is committed to developing technology finance, green finance, inclusive finance, pension finance, and digital finance[2]. - The bank's strategic focus includes deepening reform and innovation to improve operational efficiency[3]. - The company aims to contribute to high-quality development and modernize its operations in line with national strategies[22]. - The group plans to enhance financial services to support green transformation and digitalization efforts in 2024[25]. Awards and Recognition - The bank has received multiple awards, including the Best ESG Bank in China and the Best Cash Management Bank[4]. - The company ranked first among Chinese banks in Bloomberg's "Global Sustainable Linked Loans" and "Global Green UoP Loans"[80]. - The bank has been recognized with multiple awards, including the "Best RMB Bank" and "Best Supply Chain Finance Bank," highlighting its professional advantages in the transaction banking sector[97]. Digital Transformation and Technology - The bank's financial technology innovations have been recognized with awards for blockchain projects and overall development[4]. - Monthly active users of mobile banking approached 90 million, reflecting enhanced digital service capabilities[23]. - The bank is committed to digital transformation, focusing on improving financial service efficiency and risk control through data integration and analysis[87]. - The bank's technology investment amounted to 22.397 billion yuan, accounting for 3.60% of operating income[148]. - The bank launched 28 new products for corporate clients, enhancing cross-border financial services[145]. International Operations - Bank of China operates in 64 countries and regions, providing a comprehensive range of financial services[2]. - The bank's international settlement volume for the year was approximately USD 8 trillion, supporting foreign trade stability and structural optimization[19]. - The bank has established 1,464 cross-border RMB interbank accounts for clients in 112 countries and regions, maintaining a leading position in domestic peers[95]. - The bank's market share in cross-border RMB settlement and foreign currency trade financing remains the highest in the industry[96]. Customer and Market Growth - The bank's personal financial assets exceeded CNY 14 trillion, reflecting a commitment to enhancing service quality and product safety[20]. - The balance of inclusive loans exceeded CNY 1.7 trillion, with a growth rate exceeding 40%[19]. - The bank's agricultural loan balance reached CNY 2.66 trillion, an increase of 28.53% compared to the end of the previous year, exceeding the average growth rate of all loans[98]. - The number of corporate online banking customers reached 8.19 million by the end of 2023, an increase of 13.31% year-on-year[87]. Financial Stability and Capital Management - The capital adequacy ratio improved to 17.74%, up by 0.22 percentage points[19]. - The bank successfully issued CNY 30 billion perpetual bonds and CNY 220 billion Tier 2 capital bonds in 2023, enhancing its capital strength[187]. - The leverage ratio stood at 7.39% at the end of 2023, slightly down from 7.65% at the end of 2022, still meeting regulatory requirements[189]. - The total risk-weighted assets amounted to CNY 18,591,278 million, up from CNY 16,818,275 million at the end of 2022[188]. Employee and Workforce Development - The number of employees at the bank was 306,931, with 281,827 located in mainland China[192]. - Female employees constitute 57.07% of the total workforce, while male employees make up 42.93%[193]. - The average training duration for employees was 55.32 hours, focusing on political training and core business skills[197]. - The bank plans to provide over 13,000 job positions in its 2024 global campus recruitment initiative to support employment for college graduates[192].
中国银行(03988) - 2023 - 年度业绩