2024-03-28 16:00Bank Overview and Recognition - Bank of China has been recognized as the 4th largest global bank by The Banker, and the 4th in brand value among the top 500 global banks by Brand Finance[9]. - Bank of China has been selected as a global systemically important bank for 13 consecutive years, reflecting its international status and competitive strength[1]. - Bank of China is the only official banking partner for both the 2008 Beijing Summer Olympics and the 2022 Beijing Winter Olympics, emphasizing its strong brand presence[1]. Financial Performance - The company's operating income for 2023 was RMB 618,010 million, a decrease from RMB 622,889 million in 2022[20]. - The net profit for 2023 was RMB 227,339 million, compared to RMB 246,371 million in 2022[20]. - The basic earnings per share for 2023 was RMB 0.80, down from RMB 0.74 in 2022 (restated)[20]. - The net interest margin for 2023 was 1.59%, a decline from 1.75% in 2021[20]. - The non-performing loan ratio for 2023 was 1.27%, compared to 1.32% in 2022 (restated)[20]. - The company proposed a final dividend of RMB 2.364 per 10 shares for the year 2023, subject to shareholder approval[19]. - The average return on total assets for 2023 was 0.80%, down from 0.85% in 2022 (restated)[20]. - The cost-to-income ratio for 2023 was 28.50%, an increase from 28.17% in 2022 (restated)[20]. - The company reported a non-interest income ratio of 25.10% for 2023, compared to 21.54% in 2022[20]. Asset and Loan Growth - Total assets as of the end of 2023 amounted to RMB 32,432,166 million, an increase from RMB 28,893,548 million in 2022, reflecting a growth of approximately 12%[30]. - The balance of loans to private enterprises increased by over CNY 790 billion, growing by more than 27%[35]. - The balance of inclusive loans exceeded CNY 1.7 trillion, with a growth rate of over 40%[35]. - By the end of 2023, the balance of inclusive small and micro enterprise loans reached CNY 1,758.543 billion, an increase of 43.17% compared to the end of the previous year, surpassing the average growth rate of all loans[60]. - The company's agricultural loan balance reached 2.66 trillion yuan by the end of 2023, reflecting a growth of 28.53%, surpassing the average growth rate of all loans[83]. Digital Transformation and Innovation - The bank has been awarded the AAA Financial Technology Award for the best blockchain project, highlighting its commitment to innovation in financial technology[9]. - The monthly active users of the mobile banking app approached 90 million, reflecting continuous optimization of digital services[47]. - The bank's digital financial services expanded to cover 56 countries and regions for corporate online banking, providing services in 14 languages[69]. - The overseas personal mobile banking service has been upgraded to version 6.0, covering 30 countries and regions, providing 12 language services, and enhancing customer experience significantly[140]. - The bank has implemented a digital transformation strategy, launching online personal mortgage loan application platforms to enhance customer experience[148]. Social Responsibility and Green Finance - The bank's commitment to social responsibility has been recognized with various awards, including the People's Corporate Social Responsibility Award for Green Development[9]. - The domestic green credit balance reached RMB 3.1067 trillion at the end of 2023, a year-on-year increase of 56.34%[52]. - The company issued green financial bonds equivalent to USD 2.4 billion and RMB 30 billion in 2023, leading the market in green bond underwriting[54]. - The bank aims to achieve carbon neutrality in its operations by 2030 and has published its first climate-related financial disclosure report[144]. - The bank actively promotes green finance development in Southeast Asia, launching its first green bilateral loan and social responsibility loan in the region[148]. Corporate Governance and Compliance - The related party transaction control committee held 3 meetings in 2023, focusing on the management of related party transactions and regulatory compliance[86]. - The supervisory board conducted 4 on-site meetings and 1 written resolution meeting in 2023, ensuring oversight of the board's operations and financial activities[90]. - The company appointed PwC as the domestic auditor for 2023, with audit fees totaling RMB 193 million, including RMB 12 million for internal control audits[96]. - The company emphasized voluntary disclosures related to cross-border financial services and ESG development in 2023[98]. - The bank has implemented strict securities trading management for its directors and supervisors, adhering to regulatory standards[95]. Customer Service and Consumer Protection - The bank received a total of 276,000 complaints in 2023, representing a year-on-year increase of 51.8% compared to 2022[172]. - Credit card complaints accounted for 37.9% of total complaints, while debit card and loan complaints represented 26.3% and 20.9%, respectively, together making up 85.1% of all complaints[172]. - The bank's consumer complaint management system has been improved, with a focus on key areas such as personal loans and credit cards to enhance customer experience[171]. - The bank's financial education initiatives reached approximately 800 million consumers through over 75,000 activities conducted by more than 250,000 employees[174]. - In 2023, the bank's consumer rights protection training covered over 860,000 employees, ensuring comprehensive training across all levels[169].