Financial Performance - Net profit attributable to shareholders was RMB 19.19 billion, a slight increase of 0.25% year-on-year [4]. - Operating income for the first quarter was RMB 53.57 billion, representing a year-on-year growth of 4.52% [4]. - For the three months ended March 31, 2024, net interest income was RMB 34,960 million, a decrease of 4.55% from RMB 36,626 million in the same period of 2023 [38]. - Total operating income for the same period was RMB 53,569 million, an increase of 4.51% compared to RMB 51,252 million in 2023 [38]. - The bank's pre-tax profit for Q1 2024 was RMB 21,914 million, down 2.65% from RMB 22,511 million in Q1 2023 [38]. - The bank reported a significant increase in other comprehensive income after tax, totaling RMB 4,297 million for Q1 2024, compared to RMB 597 million in Q1 2023 [39]. - The bank's credit impairment losses for Q1 2024 were RMB 16,819 million, an increase from RMB 14,109 million in the same period of 2023 [38]. Asset and Loan Growth - As of March 31, 2024, total assets reached RMB 9,070.31 billion, a 0.20% increase from the end of 2023 [3]. - Total loans and advances amounted to RMB 5,582.31 billion, reflecting a 1.53% increase compared to the end of 2023 [3]. - Customer deposits totaled RMB 5,417.09 billion, an increase of 0.35% from the end of 2023 [3]. - The balance of corporate loans (excluding discount loans) increased by 7.70% to RMB 2,904.96 billion [8]. - The balance of personal housing mortgage loans was CNY 977.495 billion, growing by 0.65% year-on-year [9]. - The balance of inclusive small and micro enterprise loans was CNY 572.690 billion, with an increase of CNY 27.614 billion, outpacing the growth rate of other loan categories [12]. - The balance of medium and long-term loans in the manufacturing sector reached CNY 278.459 billion, an increase of 7.69% compared to the end of the previous year [9]. Capital and Liquidity Ratios - The core Tier 1 capital adequacy ratio stood at 9.69% as of March 31, 2024, an increase from 8.99% on December 31, 2023 [24]. - The leverage ratio was reported at 7.24% as of March 31, 2024, up from 6.66% at the end of December 2023 [25]. - The liquidity coverage ratio was 128.99% as of March 31, 2024, down from 167.48% on December 31, 2023 [26]. - The total capital adequacy ratio was 13.61% as of March 31, 2024, an increase from 12.93% at the end of December 2023 [24]. Shareholder Information - The total number of ordinary shareholders was 128,730, with the largest shareholder, China CITIC Financial Holdings, holding 67.05% of the shares [27]. - CITIC Financial Holdings held a total of 36,610,129,412 shares, accounting for 68.70% of the total shares of the company as of the reporting period [4]. - The total number of preferred shareholders was 39, with the largest shareholder being China Mobile Communications Group Co., Ltd., holding 43,860,000 shares, representing 12.53% [32]. - The conversion of CITIC Financial Holdings' convertible bonds resulted in an increase of 4,325,901,639 shares, raising their total holdings to 36,610,129,412 shares [34]. Customer and Market Engagement - The number of "specialized, refined, distinctive, and innovative" enterprises served increased to 28,636, up by 1,492 from the end of the previous year [10]. - The company served 22,000 small foreign trade customers, reflecting a commitment to expanding its customer base [16]. - The company added over 2,800 private banking clients, achieving the best historical performance for the same period [16]. - The AI outbound calling service saw a year-on-year increase of 65% in the number of customers contacted [14]. Cash Flow and Investment Activities - Cash flow from operating activities showed a net outflow of RMB 333.14 billion, a significant increase in outflow compared to the previous year [6]. - Net cash flow from operating activities for Q1 2024 was RMB (333,139) million, compared to RMB (12,733) million in Q1 2023, indicating a significant decline [42]. - Net cash flow from investing activities for Q1 2024 was RMB 18,942 million, down from RMB 89,793 million in Q1 2023 [43]. - Net cash flow from financing activities for Q1 2024 was RMB 244,521 million, a substantial increase from RMB (74,615) million in Q1 2023 [43]. Non-Performing Loans - The company’s non-performing loan balance was 65.637 billion RMB, with a non-performing loan ratio of 1.18% and a provision coverage ratio of 207.79% [20][21]. - The company’s personal housing mortgage loans reached 977.495 billion RMB, with a year-on-year increase of 6.324 billion RMB, and a non-performing loan ratio of 0.56% [19].
中信银行(00998) - 2024 Q1 - 季度业绩