Financial Performance - Net interest income for the first half of 2024 was RMB 10,704.2 million, a decrease of 1.7% compared to RMB 10,892.9 million in the same period of 2023[10]. - Net fee and commission income increased by 26.1% to RMB 1,277.5 million from RMB 1,013.4 million year-on-year[10]. - Total operating income reached RMB 13,992.1 million, reflecting a growth of 3.3% from RMB 13,551.2 million in the previous year[10]. - Pre-tax profit decreased by 28.9% to RMB 1,574.3 million compared to RMB 2,213.1 million in the same period last year[10]. - Net profit attributable to shareholders was RMB 2,049.5 million, up 2.4% from RMB 2,002.0 million year-on-year[10]. Asset and Liability Management - The bank's total assets as of June 30, 2024, were RMB 1,361,667.9 million, an increase of 1.1% from RMB 1,346,446.5 million at the end of 2023[11]. - The total liabilities reached RMB 1,262.835 billion, an increase of RMB 13.277 billion, or 1.1% year-on-year[17]. - The total amount of deposits received (excluding accrued interest) was RMB 918,067.3 million, an increase of RMB 595.39 million (7.1%) from the end of 2023[73]. - The total amount of corporate deposits was RMB 336,231.9 million, accounting for 36.6% of total deposits, compared to 37.0% (RMB 317,756.0 million) at the end of 2023[74]. - The total amount of personal deposits was RMB 560,829.4 million, representing 61.1% of total deposits, up from 60.4% (RMB 519,765.6 million) at the end of 2023[74]. Loan and Credit Quality - The non-performing loan ratio stood at 2.08%, slightly up from 2.04% at the end of 2023[11]. - The non-performing loan balance was RMB 14.547 billion, an increase of RMB 0.095 billion, with a non-performing loan ratio of 2.08%, up 0.04 percentage points from the end of the previous year[83]. - Corporate non-performing loans amounted to approximately RMB 6.529 billion, a decrease of approximately RMB 0.531 billion, with a non-performing loan ratio of 1.57%, down approximately 0.21 percentage points from the end of the previous year[86]. - Personal non-performing loans were approximately RMB 8.019 billion, an increase of approximately RMB 0.626 billion, with a non-performing loan ratio of 3.06%, up approximately 0.21 percentage points from the end of the previous year[88]. - The total amount of loans and advances was RMB 699.563 billion, with a non-performing loan amount of RMB 14.547 billion, resulting in a non-performing loan ratio of 2.08%[85]. Capital Adequacy - The capital adequacy ratio improved to 12.98%, up from 11.64% at the end of the previous year[11]. - The core tier 1 capital adequacy ratio was 8.89%, with total capital adequacy ratio at 12.98%[17]. - Total equity attributable to shareholders increased to RMB 94.919 billion, an increase of RMB 2.415 billion or 2.6% compared to the end of the previous year[79]. - The bank's total equity was RMB 98.833 billion, an increase of RMB 1.944 billion or 2.0% compared to the end of the previous year[79]. Income Sources - The net trading income for the same period was RMB 493 million, a decrease of RMB 105 million or 17.6% year-on-year, primarily due to significant foreign exchange rate fluctuations[46]. - The net income from investment securities for the six months ended June 30, 2024, was RMB 1.389 billion, an increase of RMB 546 million or 64.7% year-on-year, due to higher investment returns[47]. - The bank's retail banking business contributed RMB 3.38 billion in operating income, accounting for 24.2% of total income, up from 22.3% in the previous year[99]. - The bank's funding business generated RMB 2.58 billion in operating income, representing 18.4% of total income, an increase from 15.4% in the previous year[99]. Risk Management - The company maintains a prudent risk appetite and has enhanced its risk management framework, ensuring compliance with regulatory requirements for large risk exposures[163]. - Credit risk management strategies have been optimized, with a focus on guiding stable business development and enhancing credit approval processes[164]. - The company has implemented market risk management measures in line with new capital regulations, optimizing capital allocation and reducing capital consumption[166]. - The bank has continuously improved its operational risk management capabilities, ensuring effective identification, assessment, control, monitoring, and reporting of operational risks[169]. - The liquidity situation of the bank is relatively ample, with key liquidity indicators meeting regulatory requirements and continuously improving[170]. Digital Transformation and Innovation - The company initiated 16 key digital transformation projects as part of its 2024 digital transformation plan, distributing 450 million big data use case clues and serving 167,900 small and micro customers, with a loan balance of RMB 91.038 billion, an increase of RMB 7.26 billion since the beginning of the year[150]. - The company launched a digital academy to strengthen the value of courses for frontline branches, with over 3,000 employees participating in online training sessions[151]. - The company successfully launched the second phase of its new payment system, marking a significant advancement in its payment service capabilities[152]. - The mobile banking platform optimized 80% of its business experience and launched 50% of module improvements, enhancing customer service experience[142]. - The company has strengthened its market influence and customer service system in interbank business, significantly increasing external institution credit[133]. Shareholder Information - The bank's total issued ordinary shares amounted to 36,549,823,322 shares, including 6,945,000,000 H-shares and 29,604,823,322 domestic shares[183]. - The top ten shareholders of the bank held a total of 8,706,877,897 shares, representing approximately 23.82% of the total issued ordinary shares[183]. - The largest shareholder, Henan Investment Group Co., Ltd., held 2,444,738,403 shares, accounting for 6.69% of the total[185]. - The company is subject to the Interim Measures for the Administration of Shareholding in Commercial Banks, with Henan Investment Group Co., Ltd. and China Tourism Group Co., Ltd. being classified as major shareholders[195]. - The total number of shares held by the top ten shareholders is 15,123,395,797, which is 41.38% of the total issued share capital[192].
中原银行(01216) - 2024 - 中期财报