Financial Performance - Net interest income for the first half of 2021 was RMB 6,373,900 thousand, a slight decrease of 0.4% compared to RMB 6,402,465 thousand in the same period of 2020[15]. - Total operating income increased by 3.3% to RMB 8,979,758 thousand from RMB 8,691,404 thousand year-on-year[15]. - Profit attributable to equity holders of the bank was RMB 2,696,658 thousand, reflecting a 1.6% increase from RMB 2,653,604 thousand in the previous year[15]. - The bank's interest income decreased by 3.7% to RMB 15,016,942 thousand, down from RMB 15,595,557 thousand in 2020[15]. - Investment income saw a significant increase of 37.4%, reaching RMB 1,177,738 thousand compared to RMB 857,315 thousand in the same period last year[15]. - The bank's total operating expenses rose by 9.6% to RMB 1,987,414 thousand from RMB 1,813,842 thousand in 2020[15]. - The pre-tax profit for the first half of 2021 was RMB 3,205,326 thousand, a 2.0% increase from RMB 3,143,073 thousand in the previous year[15]. - The bank's net profit for the first half of 2021 was RMB 2.71 billion, reflecting a year-on-year growth of 1.3%[28]. - The total operating income for the first half of 2021 was RMB 8,979.8 million, a slight increase from RMB 8,691.4 million in the same period of 2020[140]. Asset and Liability Management - Total assets increased to 703.33 billion, with customer loans and advances at 306.32 billion, reflecting a growth of 2.3% and 3.6% respectively[17]. - Total liabilities rose to 646.57 billion, with customer deposits increasing by 10.0% to 391.67 billion[17]. - The capital adequacy ratio stood at 14.55%, slightly up by 0.07 percentage points, indicating a stable capital position[21]. - The company's total deposits increased by 5.4% from RMB 252,705.8 million as of December 31, 2020, to RMB 266,334.0 million as of June 30, 2021[100]. - Customer deposits reached RMB 391,674.4 million as of June 30, 2021, reflecting a 10.0% increase from RMB 355,981.9 million as of December 31, 2020[97]. Credit Quality and Risk Management - The non-performing loan ratio increased to 2.32%, up by 0.16 percentage points from the previous period[20]. - The provision coverage ratio decreased to 158.55%, down by 24.90 percentage points, suggesting a potential risk in asset quality[20]. - The expected credit loss under the expected credit loss model was RMB 3,795,735 thousand, a slight increase of 1.4% from RMB 3,744,702 thousand in 2020[15]. - The impairment losses under the expected credit loss model for the six months ended June 30, 2021, were RMB 3,795.7 million, a 1.4% increase from RMB 3,744.7 million for the same period in 2020[68]. - The total amount of non-performing loans reached RMB 7,299.0 million as of June 30, 2021, compared to RMB 6,579.5 million as of December 31, 2020, reflecting an overall increase in the NPL ratio from 2.14% to 2.30%[128]. Operational Efficiency - The net interest margin improved to 1.88, up from 1.84, indicating a positive trend in profitability[18]. - The cost-to-income ratio increased to 20.96%, up by 1.25 percentage points, indicating rising operational costs[18]. - The average return on total assets was 0.78%, a slight decrease from 0.79%[18]. - Employee compensation expenses for the six months ended June 30, 2021, were RMB 1,172.2 million, an increase of 5.2% from RMB 1,114.2 million for the same period in 2020[61]. - The bank's total operating expenses increased by 9.6% to RMB 1,987.4 million for the six months ended June 30, 2021, from RMB 1,813.8 million for the same period in 2020, primarily due to increased depreciation and amortization[60]. Strategic Initiatives - The company aims to enhance its core competitiveness and overall strength in response to national strategic needs[23]. - The first half of 2021 saw a focus on supporting high-tech manufacturing and green projects, aligning with national economic policies[23]. - The bank's transaction banking business saw a cumulative investment of RMB 50.7 billion in the first half of 2021, representing a year-on-year growth of 50%[27]. - The balance of green loans for environmental protection and clean energy reached RMB 9.589 billion as of the reporting period[154]. - The bank issued green bonds and ESG bonds totaling RMB 35.25 billion in the first half of 2021, ranking in the top ten among city commercial banks in China[163]. Shareholder and Governance - As of June 30, 2021, the total share capital was 6,070,551,822 shares, with no changes during the reporting period[173]. - The top ten shareholders held a total of 2,688,202,774 shares, representing 45.46% of the total share capital[175]. - The current board includes 12 directors, with the chairman being Mr. Sun Liguo, appointed on August 27, 2020[184]. - The bank's management structure has seen changes, including the appointment of Mr. Liu Gongling as Vice President in March 2021[188]. - The company has confirmed compliance with the standards for securities trading by all directors and supervisors during the reporting period[192].
天津银行(01578) - 2021 - 中期财报