Financial Performance - Net interest income for the six months ended June 30, 2024, was RMB 10,704.2 million, a decrease of 1.7% compared to RMB 10,892.9 million in the same period last year[11]. - Net fee and commission income increased by 26.1% to RMB 1,277.5 million from RMB 1,013.4 million year-on-year[11]. - Total operating income rose by 3.3% to RMB 13,992.1 million, compared to RMB 13,551.2 million in the previous year[11]. - Pre-tax profit decreased by 28.9% to RMB 1,574.3 million from RMB 2,213.1 million year-on-year[11]. - Net profit attributable to shareholders increased by 2.4% to RMB 2,049.5 million, up from RMB 2,002.0 million in the same period last year[11]. - Operating income for the six months ended June 30, 2024, was RMB 13.992 billion, an increase of RMB 0.441 billion, or 3.3% year-on-year[19]. - Net profit for the same period was RMB 2.118 billion, an increase of RMB 0.056 billion, or 2.7% year-on-year[19]. - Total interest income decreased to RMB 24,363.8 million, down RMB 749.9 million or 3.0% compared to the same period in 2023[29]. Asset and Liability Management - The bank's total assets as of June 30, 2024, reached RMB 1,361,667.9 million, reflecting a 1.1% increase from RMB 1,346,446.5 million at the end of 2023[12]. - Customer deposits increased by 6.8% to RMB 918,067.3 million from RMB 859,783.8 million year-on-year[12]. - Total assets reached RMB 1,361.668 billion, an increase of RMB 15.222 billion, or 1.1% year-on-year[18]. - The total amount of deposits (excluding accrued interest) was RMB 896.061 billion[18]. - As of June 30, 2024, total liabilities were RMB 1,262.84 billion, reflecting an increase of RMB 13.28 billion, or 1.1% from the end of the previous year[72]. - The bank's deposits reached RMB 918.07 billion, representing 72.7% of total liabilities, up from 68.8% at the end of the previous year[72]. Loan and Credit Quality - The non-performing loan ratio was 2.08%, slightly up from 2.04% at the end of 2023[12]. - Total loans (excluding accrued interest) amounted to RMB 699.563 billion[18]. - The bank's total loans and advances amounted to RMB 699.56 billion, with a non-performing loan (NPL) balance of RMB 14.55 billion, resulting in an NPL ratio of 2.08%, up 0.04 percentage points from the end of 2023[84]. - The personal NPL balance increased by approximately RMB 626 million compared to the end of 2023, with the NPL ratio rising by 0.21 percentage points[89]. - The highest NPL ratios among industries were in the accommodation and catering industry (4.80%), real estate (4.08%), and others (4.02%) as of June 30, 2024[91]. Capital Adequacy - The capital adequacy ratio improved to 12.98%, up from 11.64% at the end of the previous year[12]. - Core Tier 1 capital adequacy ratio was 8.89%, Tier 1 capital adequacy ratio was 11.54%, and total capital adequacy ratio was 12.98%[18]. - The core Tier 1 capital adequacy ratio as of June 30, 2024, is 8.89%, an increase of 0.79 percentage points from the end of the previous year[102]. - The company's tier 1 capital adequacy ratio increased to 11.54% as of June 30, 2024, compared to 10.44% at the end of 2023[103]. Risk Management - The company has increased its provisioning efforts to enhance risk mitigation capabilities, leading to higher impairment losses[52]. - The company has implemented a comprehensive risk management system covering all processes and products, enhancing digital and intelligent risk management capabilities[164]. - The company has focused on asset quality control, implementing a comprehensive asset quality assessment system[165]. - The company has maintained a high-pressure stance on risk resolution while promoting high-quality development[163]. Digital Transformation and Innovation - The bank aims to enhance its online service capabilities, with a total of 294,200 corporate electronic channel clients as of June 30, 2024[121]. - The bank launched 16 key digital transformation projects, enhancing digital operations and serving 167,900 small and micro customers[151]. - The intelligent decision-making platform has added 39 new models and supported 340 iterations of model optimization, processing 4.58 billion credit business transactions and 644,000 anti-fraud data entries[154]. - The company has developed a license type detection model with a 95% accuracy rate for identity and business license verification[156]. Customer Engagement and Services - The total number of retail customers reached 34.6294 million, an increase of 798,300 or 2.36% from the end of 2023[129]. - The bank's customer service center handled 1.98 million customer interactions, achieving a call connection rate of 96.60% and a customer satisfaction rate of 99.75%[147]. - The bank's mobile banking registered users reached 16.72 million, with an increase of 798,400 users since the end of 2023; mobile banking customers totaled 14.31 million, an increase of 642,100 users[143]. Strategic Initiatives - The company has established a comprehensive financial service mechanism for strategic customers, with a credit asset balance of RMB 14.66 billion added during the reporting period[110]. - The bank actively supported small and micro enterprises, with 167,700 clients having outstanding loans, an increase of 9,500 clients since the end of 2023[139]. - The bank's green credit cumulative investment reached RMB 13.5 billion, with a balance of RMB 41.744 billion, an increase of RMB 8.053 billion from the end of 2023[118].
中原银行(01216) - 2024 - 中期业绩