Financial Performance - The operating income for the first quarter of 2024 was RMB 186,147 million, representing a decrease of 1.70% compared to the same period last year[5]. - The net profit attributable to shareholders of the parent company was RMB 70,386 million, down by 1.63% year-on-year[5]. - For the three months ended March 31, 2024, the group achieved a net profit of RMB 70.839 billion, a decrease of 1.77% year-on-year[13]. - The net profit for the three months ended March 31, 2024, was RMB 70,839 million, compared to RMB 72,115 million for the same period in 2023[23]. - The bank's net profit before tax for the first quarter of 2024 was RMB 79,439 million, down from RMB 83,027 million in the same period of 2023, indicating a decrease of about 4.8%[27]. Earnings and Returns - The basic earnings per share were RMB 0.19, a decrease of 5.00% from the same period last year[5]. - The annualized weighted average return on net assets was 11.39%, a decrease of 1.21 percentage points year-on-year[5]. - The annualized average return on total assets was 0.69%, a decrease of 0.13 percentage points year-on-year[13]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 42,157,279 million, an increase of 5.73% from the end of the previous year[5]. - Total assets as of March 31, 2024, amounted to RMB 42,157.279 billion, an increase of RMB 228.429 billion or 5.73% compared to the end of the previous year[14]. - Total liabilities reached RMB 39,158.056 billion, an increase of RMB 218.193 billion or 5.90% compared to the end of the previous year[14]. - Total liabilities amounted to RMB 39,158,056 million, up from RMB 36,976,122 million, indicating an increase of approximately 5.3%[26]. Cash Flow - The net cash flow from operating activities was RMB 783,563 million, reflecting a decline of 13.50% compared to the previous year[5]. - The bank's net cash flow from operating activities for the first quarter of 2024 was RMB 783,563 million, compared to RMB 905,857 million in the same period of 2023, showing a decrease of about 13.5%[27]. - The bank's investment activities resulted in a net cash outflow of RMB 1,187,549 million for the first quarter of 2024, compared to RMB 222,880 million in the same period of 2023[28]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 418,187, with 397,782 being A-share shareholders and 20,405 being H-share shareholders[6]. - Central Huijin Investment Ltd. held 40.14% of the shares, while the Ministry of Finance held 35.29%[6]. - Central Huijin Investment Ltd. plans to continue increasing its stake in the company over the next six months[8]. - A cash dividend of RMB 4.84 per share was distributed to shareholders, totaling RMB 1,936 million (including tax) on March 11, 2024[20]. Customer Loans and Deposits - Customer loans and advances totaled RMB 23,863.600 billion, increasing by RMB 124.897 billion or 5.52% from the end of the previous year[14]. - Customer loans and advances increased to RMB 22,921,347 million from RMB 21,731,766 million, reflecting a growth of about 5.5%[25]. - Customer deposits amounted to RMB 31,060.509 billion, up RMB 216.204 billion or 7.48% from the end of the previous year[14]. - The bank's total deposits increased to RMB 31,060,509 million from RMB 28,898,468 million, reflecting a growth of approximately 7.5%[25]. Non-Performing Loans - The non-performing loan balance was RMB 315.325 billion, with a non-performing loan ratio of 1.32%, a decrease of 0.01 percentage points from the end of the previous year[15]. - The provision coverage ratio stood at 303.22%, a decrease of 0.65 percentage points from the end of the previous year[15]. Capital and Liquidity - The capital adequacy ratio, Tier 1 capital adequacy ratio, and core Tier 1 capital adequacy ratio were 18.40%, 13.77%, and 11.37%, respectively, as of March 31, 2024[18]. - The average liquidity coverage ratio for the first quarter of 2024 was 131.17%[18]. - The bank issued RMB 40 billion of non-fixed-term capital bonds in the interbank bond market in March 2024[19]. Sector-Specific Loans - The balance of loans in the manufacturing sector was RMB 3,325.60 billion, up by RMB 373.70 billion, or 12.66% year-on-year[17]. - The balance of green credit business reached RMB 4,815.40 billion, an increase of RMB 766.70 billion, or 18.94% compared to the previous year[17]. - The balance of inclusive finance loans was RMB 4,392.50 billion, increasing by RMB 809.80 billion, or 22.60% year-on-year[17]. Equity - The equity attributable to shareholders of the parent company was RMB 2,991,892 million, up by 3.55% compared to the end of the previous year[5]. - The bank's equity totalled RMB 2,999,223 million as of March 31, 2024, an increase from RMB 2,896,867 million at the end of 2023, representing a growth of approximately 3.5%[26]. - The bank issued other equity instruments, raising RMB 40,000 million during the first quarter of 2024[28].
农业银行(01288) - 2024 Q1 - 季度业绩