Financial Performance - Net profit for the first half of 2024 was RMB 808.34 million, representing a year-on-year increase of 19.71% from RMB 675.27 million[10]. - The company's total operating income for the first half of 2024 was RMB 2.836 billion, up RMB 389 million or 15.91% compared to the same period last year[17]. - The bank's total operating income for the first half of 2024 reached RMB 2,835,908 thousand, a 15.87% increase from RMB 2,446,656 thousand in the same period of 2023[112]. - The bank's pre-tax profit for the first half of 2024 was RMB 1,035,133 thousand, up from RMB 860,297 thousand in the same period of 2023, marking a growth of 20.3%[187]. - The bank's operating profit for the first half of 2024 was RMB 1,034,030 thousand, an increase of 20.6% from RMB 857,526 thousand in the same period of 2023[187]. Asset and Liability Management - Total assets reached RMB 165.16 billion, an increase of 4.77% compared to RMB 157.64 billion at the end of 2023[10]. - Total liabilities as of June 30, 2024, were RMB 153.81 billion, an increase of RMB 7.10 billion or 4.84% from the end of 2023, primarily due to steady growth in customer deposits[64]. - Customer deposits amounted to RMB 130.26 billion, reflecting a growth of 10.74% from RMB 117.62 billion at the end of 2023[10]. - The bank's total liabilities increased to 153,808,830 from 146,709,384, reflecting a growth of about 4.7%[190]. Loan and Deposit Growth - Customer loans totaled RMB 100.44 billion, with a net increase of 7.72% from RMB 88.47 billion at the end of 2023[10]. - The net amount of customer loans was RMB 95.30 billion, an increase of RMB 6.83 billion or 7.72% year-over-year[50]. - The total amount of customer deposits reached RMB 124.93 billion, with an interest expense of RMB 1.67 billion[34]. - Customer deposits as of June 30, 2024, totaled RMB 130.26 billion, an increase of RMB 12.63 billion or 10.74% from the end of 2023, accounting for 84.69% of total liabilities[66]. Profitability Ratios - The average return on total assets increased to 1.00%, compared to 0.89% in the same period last year[11]. - The average return on equity rose to 14.07%, up from 12.41% in the previous year[11]. - The net interest margin improved to 2.77%, an increase of 0.03 percentage points compared to the previous year, driven by a greater decline in the average cost of interest-bearing liabilities than the average yield on interest-earning assets[22]. Non-Performing Loans and Risk Management - The non-performing loan ratio was 1.39%, slightly up from 1.35% at the end of 2023[10]. - The non-performing loan ratio remained at a competitive level among national city commercial banks, indicating effective risk management[15]. - The expected credit loss provision for loans measured at amortized cost increased to RMB 5.147 billion as of June 30, 2024, up RMB 574 million or 12.56% from the end of 2023[87]. - The bank has strengthened internal management and risk control capabilities to mitigate loan risks amid a complex global economic environment[73]. Capital Adequacy and Liquidity - The bank's capital adequacy ratio stood at 12.46%, down from 12.74% at the end of 2023[10]. - The liquidity ratio improved to 82.26%, compared to 80.14% in the previous period[10]. - The liquidity ratio as of June 30, 2024, is 82.26%, exceeding the regulatory requirement by 57.26 percentage points[106]. - The quality liquidity asset ratio is 171.25%, surpassing the regulatory requirement by 71.25 percentage points[106]. Shareholder Information - The total shareholding of Luzhou Laojiao Group Co., Ltd. and its controlled entities amounts to 433,920,000 shares, representing 15.97% of the total issued shares[148]. - The report indicates a significant concentration of ownership among the top shareholders, with the top five holding over 50% of the total shares[145]. - The top ten shareholders of Luzhou Bank hold a total of 1,000,000,000 shares, representing approximately 37.73% of the total issued shares[145]. Employee and Management Structure - As of June 30, 2024, the total number of employees in the company is 1,486, with an average age of 35.23 years[167]. - The company organized approximately 170 training sessions during the reporting period, with over 4,600 participants[172]. - The board of directors consists of 10 members, including 2 executive directors and 4 independent non-executive directors[161]. Operational Efficiency - The bank's total operating expenses for the first half of 2024 were RMB 898,069 thousand, compared to RMB 716,788 thousand in the prior year, reflecting an increase of 25.3%[187]. - The bank has implemented measures to strengthen the management of non-performing assets, including enhanced monitoring of overdue loans and risk warning signals[88]. - The bank's management emphasized proactive compliance and strict risk control principles to enhance credit risk management[96].
泸州银行(01983) - 2024 - 中期财报