PSBC(01658)2024-04-29 09:10Financial Performance - Net profit for Q1 2024 was RMB 25,957 million, a decrease of 1.25% from RMB 26,285 million in Q1 2023[3]. - The company's operating revenue for the reporting period was 89.494 billion yuan, representing a year-on-year growth of 1.42%[13]. - The net profit attributable to shareholders was 25.926 billion yuan, maintaining a stable performance despite industry challenges[13]. - Net profit for the period was CNY 25.957 billion, a decrease of CNY 3.28 billion, or 1.25% year-on-year[19]. - Total operating income for Q1 2024 was RMB 89,494 million, up from RMB 88,242 million in Q1 2023, indicating a growth of 1.4%[30]. Asset and Liability Management - Total assets increased to RMB 16,331,949 million, up 3.85% from RMB 15,726,631 million at the end of 2023[2]. - The bank's total liabilities amounted to RMB 15,323,248 million, an increase of 3.75% from RMB 14,770,015 million[2]. - The bank's equity attributable to shareholders increased to RMB 1,006,927 million as of March 31, 2024, from RMB 954,873 million at the end of 2023, a growth of 5.5%[33]. - The adjusted on-balance sheet assets total RMB 16,951,270 million after accounting for various adjustments, including a deduction for impairment provisions of RMB 262,689 million[39]. Loan and Deposit Growth - Customer loans reached RMB 8,522,074 million, reflecting a growth of 4.58% compared to RMB 8,148,893 million[2]. - Customer deposits rose to RMB 14,628,047 million, marking a 4.82% increase from RMB 13,955,963 million[2]. - The balance of differentiated credit growth reached 5.31 trillion yuan, accounting for 62.34% of total loans, an increase of 0.35 percentage points from the end of the previous year[13]. - Agricultural loans balance reached CNY 2.33 trillion, an increase of CNY 176.23 billion compared to the end of last year[14]. - Inclusive small and micro enterprise loans balance reached CNY 1.58 trillion, accounting for over 18% of total customer loans, with a growth rate exceeding 30%[15]. Capital Adequacy and Risk Management - The bank's core tier 1 capital adequacy ratio stood at 9.41%, compared to 9.23% at the end of 2023[5]. - The liquidity coverage ratio stood at 282.57%, indicating a strong liquidity position relative to net cash outflows[37]. - The net stable funding ratio was reported at 165.81%, reflecting a robust funding profile[37]. - The company is focusing on enhancing risk management capabilities and has implemented a digital risk monitoring system[13]. Investment and Cash Flow - Operating cash flow increased significantly to RMB 225,146 million, up 829.74% from RMB 24,216 million year-on-year[4]. - Cash flow from investment activities resulted in a net outflow of RMB 65,769 million, compared to a net outflow of RMB 3,334 million in the previous year, indicating increased investment activity[35]. - Cash flow from financing activities showed a net outflow of RMB 68,646 million, contrasting with a net inflow of RMB 47,240 million in the same period last year, reflecting changes in capital structure[35]. Customer and Market Engagement - The number of ordinary shareholders reached 162,562, including 160,105 A-share shareholders and 2,457 H-share shareholders[6]. - The number of technology-based enterprises served reached 74,800, with a loan balance growth of 13.97% compared to the previous year[15]. - The number of VIP clients reached 53.82 million, growing by 4.55% compared to the end of last year[16]. - The company launched a comprehensive digital management platform for small and micro enterprises, serving a total of 14,000 clients[15]. Strategic Initiatives - The company aims to achieve its "14th Five-Year Plan" goals, emphasizing high-quality development and innovation[13]. - The company is actively optimizing its liability structure to maintain cost advantages[13]. - The company is committed to supporting the "two small" loan growth in agriculture and small enterprises, achieving historical highs in loan increments[13]. - The company is actively exploring green financial products, including the innovative "ESG loan + insurance" service model[16].