CMBC(600016)2024-04-29 12:09Financial Performance - Net profit attributable to shareholders was RMB 13,431 million, down 5.63% from the same period last year[4]. - The bank's basic earnings per share decreased to RMB 0.31, down 6.06% year-on-year[4]. - The group's operating income for Q1 2024 was RMB 34,273 million, a decrease of 4.3% compared to RMB 36,773 million in Q1 2023[48]. - The total profit for Q1 2024 was RMB 15,253 million, down 4.9% from RMB 16,039 million in Q1 2023[48]. - The net profit attributable to shareholders for Q1 2024 was RMB 13,431 million, a decrease of 5.6% from RMB 14,232 million in Q1 2023[50]. - The net interest income for Q1 2024 was RMB 24,262 million, down from RMB 25,369 million in Q1 2023, reflecting a decline of 4.4%[48]. Asset and Liability Management - Total assets reached RMB 7,727,511 million, an increase of 0.68% compared to the end of 2023[3]. - Total liabilities amounted to RMB 7,075,029 million as of March 31, 2024, compared to RMB 7,037,164 million as of December 31, 2023, indicating a decrease of about 0.5%[44]. - The bank's equity attributable to shareholders increased to RMB 639,200 million as of March 31, 2024, up from RMB 624,602 million as of December 31, 2023, reflecting a growth of approximately 2.5%[46]. Loan and Deposit Trends - Total loans and advances amounted to RMB 4,498,726 million, reflecting a growth of 2.60% year-on-year[3]. - Total deposits decreased to RMB 4,252,603 million, a decline of 0.71% from the end of 2023[3]. - Corporate deposits totaled CNY 29,646.47 billion, a decrease of CNY 897.73 billion or 2.94% from the previous year[17]. - The average daily balance of general deposits for settlement customers was CNY 12,531.55 billion, an increase of CNY 316.52 billion or 2.59% year-on-year[19]. Risk Management - The non-performing loan ratio improved to 1.44%, a decrease of 0.04 percentage points compared to the end of 2023[3]. - The bank's non-performing loan coverage ratio is stable at 149.36%, reflecting effective risk management practices[33]. - The bank has identified 556 high-risk accounts through its new account label system, improving risk management capabilities[31]. Operational Efficiency - The bank's cost-to-income ratio rose to 29.32%, an increase of 2.37 percentage points compared to the previous year[4]. - The bank's liquidity coverage ratio stands at 140.58%, exceeding the regulatory requirement by 40.58 percentage points, indicating strong short-term liquidity risk resilience[38]. - The bank's operating expenses decreased to RMB 19,037 million in Q1 2024, compared to RMB 20,608 million in Q1 2023, a reduction of 7.6%[48]. Customer Engagement and Growth - The number of retail customers increased to 130.2455 million, an increase of 1.5261 million compared to the end of the previous year[21]. - The bank's private banking customer base grew by 5.08% to 58,745 clients compared to the end of the previous year[21]. - The bank's digital marketing efforts reached 14.818 million customers, covering 2.217 million customers through 40,306 marketing activities[23]. Investment and Financial Products - The bank's wealth management products saw a 3.10% increase in sales balance compared to the end of the previous year[22]. - The balance of green credit was CNY 2,864.39 billion, up CNY 221.98 billion or 8.40% year-over-year[13]. - The bank's asset custody scale was 12.18 trillion RMB, an increase of 1.08% compared to the end of the previous year[28]. Future Outlook and Strategy - The company emphasizes a strategy focused on high-quality development, aligning with national economic growth opportunities[12]. - The bank plans to expand its market presence through strategic partnerships and technological advancements in the upcoming quarters[47]. - The company has implemented a risk control strategy, aiming to enhance growth while optimizing structure[12].