CM BANK(03968)2024-04-18 08:36Financial Performance - The group achieved operating net income of RMB 339.078 billion, a year-on-year decrease of 1.64%[11] - Net profit attributable to shareholders was RMB 146.602 billion, an increase of 6.22% year-on-year[11] - Net interest income reached RMB 214.669 billion, down 1.63% compared to the previous year[11] - Non-interest net income was RMB 124.409 billion, a decline of 1.66% year-on-year[11] - The average return on total assets (ROAA) was 1.39%, and the average return on equity (ROAE) was 16.22%, both showing a decrease compared to the previous year[11] - The net income for the reporting period was RMB 194,315 million, with a cost-to-income ratio of 31.96%, up 0.01 percentage points year-on-year[85] Loan and Deposit Growth - Interest income from loans and advances was RMB 375.610 billion, an increase of 6.29% year-on-year, driven by the expansion of interest-earning assets[13] - Total loans and advances amounted to RMB 6,508,865 million, with a non-performing loan amount of RMB 61,579 million, resulting in a non-performing loan ratio of 0.95% as of December 31, 2023[74] - Retail loan balance stood at RMB 3,437.88 billion, growing by 8.73% year-on-year, with small and micro loans amounting to RMB 751.30 billion, up 19.06%[39] - As of December 31, 2023, total customer deposits reached RMB 8,155.44 billion, an increase of 8.22% compared to RMB 7,535.74 billion at the end of 2022[67] - Customer deposit balance reached RMB 7,871.56 billion, an increase of RMB 597.05 billion, or 8.21% year-on-year[153] - The average daily balance of core deposits increased by RMB 758.20 billion, or 12.94%, accounting for 86.63% of customer deposits[153] Asset Quality and Non-Performing Loans - The non-performing loan (NPL) balance increased to RMB 61.58 billion, a rise of RMB 3.58 billion from the previous year, with an NPL ratio of 0.95%, down 0.01 percentage points[70] - The total amount of normal loans was RMB 6,375.96 billion, accounting for 97.95% of total loans, with non-performing loans comprising 0.95% of the total[36] - The bank's retail non-performing loan balance was RMB 30.59 billion, with a non-performing loan rate of 0.89%, unchanged from the previous year[39] - The company reported a retail loan non-performing rate of 0.90%, with a focus on optimizing customer structure and quality asset allocation[136] - The company’s non-performing loan ratio for real estate was 5.01%, an increase of 1.02 percentage points from the end of the previous year[127] - New non-performing loans generated amounted to RMB 60.99 billion, a decrease of RMB 1.98 billion, with a non-performing loan generation rate of 1.03%, down 0.12 percentage points year-on-year[157] Capital Adequacy and Risk Management - The bank's core Tier 1 capital adequacy ratio was 13.32%, up 0.09 percentage points from the previous year-end[49] - The core tier 1 capital adequacy ratio increased to 11.86%, up 0.34 percentage points from the previous year, while the total capital adequacy ratio rose to 14.96%, an increase of 0.28 percentage points[81] - The loan loss provision balance was CNY 261.40 billion, an increase of CNY 7.99 billion from the end of the previous year, with a coverage ratio of 456.73%[131] - The company has enhanced risk management strategies, focusing on key areas such as personal housing loans and consumer credit, ensuring overall asset quality stability[134] Digital Transformation and Innovation - The company is committed to digital transformation, improving decision-making efficiency through data-driven management platforms[145] - The company launched 558 new fintech innovation projects and 612 new online projects during the reporting period, with a cumulative total of 3,800 fintech projects initiated[94] - The bank's online corporate banking international business section served 107,206 customers, a 98% increase year-on-year, with online transaction volume reaching 1.5 million[116] - The monthly active users (MAU) of the bank's app reached 117 million, enhancing digital service capabilities[119] Wealth Management and Investment Banking - Retail financial business pre-tax profit reached RMB 99,913 million, a year-on-year increase of 6.09%, contributing 56.57% to the group's pre-tax profit[85] - Wealth management fees and commission income was RMB 28.47 billion, a year-on-year decrease of 7.89%[150] - The total assets under management (AUM) for retail customers amounted to RMB 13.32 trillion, reflecting a growth of 9.88% year-on-year[115] - The company completed 30 Hong Kong IPO projects during the reporting period, maintaining a leading position in the Hong Kong IPO underwriting business[175] Corporate Client Services - The number of corporate clients served reached 2.8206 million, an increase of 11.66% compared to the previous year, with corporate loan balance growing by 10.70% to RMB 2,321,585 million[89] - The company served 87,100 clients with corporate collection products, a year-on-year increase of 38.92%, with a transaction amount of 6.28 trillion yuan, up 47.76% year-on-year[191] - A total of 6,285 corporate clients were provided with hedging services, with derivative trading volume amounting to 64.783 billion USD[177] Strategic Focus Areas - The company plans to enhance non-interest income through wealth management business development, focusing on product innovation and optimizing the structure of insurance, funds, and wealth management products[102] - The company aims to maintain a stable asset quality in personal housing loans, with a non-performing loan rate of 0.35% and overdue loan rate of 0.50%[138] - The company plans to focus on key areas such as technology finance, green finance, and digital finance to optimize its credit structure[156]