Financial Performance - As of June 30, 2024, the total assets of Bank of Tianjin reached RMB 897.38 billion, an increase of 6.7% compared to the end of the previous year[8]. - The total liabilities amounted to RMB 830.46 billion, reflecting a growth of 7.1% year-on-year[8]. - Operating income for the period was RMB 8.76 billion, representing a year-on-year increase of 7.7%[8]. - Total profit reached RMB 2.04 billion, showing a significant year-on-year growth of 91.7%[8]. - Net profit for the period was RMB 1.98 billion, which is a remarkable increase of 136.4% compared to the same period last year[8]. - Tianjin Bank reported a net profit of approximately RMB 1,975.8 million for the first half of 2024, representing a year-on-year increase of 136.4%[25]. - The bank's pre-tax profit reached RMB 2,038.6 million, a significant increase of 91.7% compared to RMB 1,063.5 million in the previous year[77]. - The bank's net interest margin remained stable at 1.68%, with a net interest yield of 1.60%[44][46]. - The cost-to-income ratio improved to 21.79% from 22.19% in the previous year, indicating better operational efficiency[28]. Asset and Loan Growth - Customer loans and advances increased by 11.5% to RMB 441.4 billion compared to RMB 396.0 billion at the end of 2023[27]. - Loan balance amounted to RMB 441.40 billion, growing by 11.5% year-on-year[34]. - Corporate loans reached RMB 330,617.6 million, up 20.7% from RMB 274,018.9 million at the end of the previous year[82]. - The balance of loans in the Beijing-Tianjin-Hebei region was RMB 340.51 billion, an increase of 16.4% year-on-year[37]. - The balance of technology innovation enterprise loans was RMB 14.494 billion, up 24.0% from the end of last year[40]. - The balance of green loans reached RMB 33.041 billion, marking a 35.69% increase from the previous year[145]. Risk Management and Asset Quality - The bank's non-performing loan ratio improved to 1.54% from 1.70% at the end of 2023, a decrease of 0.16 percentage points[29]. - The provision coverage ratio rose to 181.75%, an increase of 13.89 percentage points compared to the end of last year[35]. - The expected credit loss under the impairment model decreased by 9.1% to RMB 4.70 billion[43]. - The non-performing loan ratio improved to 1.52%, a decrease of 0.15 percentage points from the end of 2023[130]. - The corporate loan NPL ratio was 1.25%, down by 0.24 percentage points year-on-year, while the personal loan NPL ratio increased to 2.82%, up by 0.36 percentage points[130]. Strategic Initiatives and Market Position - The company has established nearly 220 branches across major cities including Tianjin, Beijing, and Shanghai, enhancing its market presence[8]. - Bank of Tianjin is actively pursuing high-quality development through strategic initiatives aimed at optimizing and integrating resources[8]. - The bank was recognized as the third best city commercial bank for green debt financing tools in the first half of 2024 by the China Interbank Market Dealers Association[16]. - The bank's market recognition has been increasing, as evidenced by multiple awards and honors received during the reporting period[16]. - The bank aims to serve key industries in the regions where its branches are located, aligning with Tianjin's "Ten Actions" initiative[11]. Digital Transformation and Innovation - The bank's digital transformation efforts have been recognized with several awards, including the "Pioneer Enterprise in Digital Transformation" at the 2024 Financial Technology Innovation Awards[17]. - The bank is focusing on digital transformation and enhancing customer experience through upgraded online services and new product offerings[149]. - The number of cooperative merchants under the "Smart Merchant" platform reached 1.2053 million, with a coverage rate exceeding 60% in Tianjin[150]. - Personal mobile banking customers increased to 3.799 million, with transaction amounts reaching RMB 143.07 billion during the reporting period[150]. Governance and Management - The board of directors has confirmed the interim results, ensuring compliance with the Hong Kong Stock Exchange listing rules[1]. - The bank's governance includes a diverse board with independent directors, ensuring compliance and oversight[195]. - The company has made changes in its board and supervisory board composition, indicating a strategic shift in governance[200]. - The appointment of new directors and supervisors reflects the company's commitment to governance and oversight[200]. - The bank's management team has been renewed, with key positions confirmed until December 31, 2026[196][198].
天津银行(01578) - 2024 - 中期业绩