Financial Reporting and Compliance - The bank's board of directors confirmed the accuracy and completeness of the semi-annual report for 2024, ensuring no false statements or significant omissions exist[10]. - The financial report for the first half of 2024 has not been audited[10]. - The bank's management team, including the chairman and CEO, has guaranteed the truthfulness and accuracy of the financial report[10]. - The bank's compliance with regulatory requirements is highlighted, ensuring adherence to the relevant laws and regulations[10]. - The company has appointed Ernst & Young as its domestic and international auditing firm for the 2024 fiscal year[199]. - There were no significant contracts outside the normal business scope related to custody, contracting, or leasing of assets during the reporting period[200]. Financial Performance - The total assets of the company reached CNY 805.968 billion, with total deposits of CNY 450 billion and total loans of CNY 419.897 billion, achieving a non-performing loan ratio of 1.25% and a provision coverage ratio of 249.59%[13]. - Net interest income for the first half of 2024 was RMB 5,224,044 thousand, a decrease of 3.01% compared to RMB 5,386,427 thousand in the same period of 2023[17]. - The net profit for the first half of 2024 was RMB 3,210,267 thousand, representing a growth of 5.17% compared to RMB 3,052,330 thousand in the same period of 2023[17]. - The group's operating income for the first half of 2024 was RMB 6.954 billion, representing a growth of 3.31% year-on-year[28]. - The income tax expense for the first half of 2024 was RMB 490.34 million, up by RMB 116.10 million or 31.02% compared to the same period last year[55]. - The pre-tax profit for the first half of 2024 was RMB 3.70 billion, representing an increase of RMB 274.04 million or 8.00% year-on-year[56]. Asset and Liability Management - The bank's total liabilities increased to RMB 744,141,290 thousand, a rise of 6.22% from RMB 700,584,443 thousand at the end of 2023[18]. - The total amount of financial investments was RMB 257.87 billion as of June 30, 2024, a decrease of RMB 22.87 billion or 8.15% from the end of the previous year[63]. - The group's total liabilities reached RMB 744.14 billion, an increase of RMB 43.56 billion or 6.22% from the end of 2023[72]. - The total financial assets amount to RMB 794.48 billion, while total financial liabilities are RMB 742.28 billion, resulting in a net interest sensitivity gap of RMB 52.20 billion[130]. Risk Management - The bank is facing significant risks and has outlined measures to address these in the "Management Discussion and Analysis - Risk Management" section of the report[10]. - The bank emphasizes risk management principles including matching, full coverage, independence, and effectiveness, ensuring that returns are aligned with the risks undertaken[125]. - Credit risk management is enhanced through a structured approach, focusing on supporting key sectors such as small and micro enterprises, green development, and technological innovation[126]. - The bank has implemented a dynamic management framework for non-performing assets, utilizing modern and digital methods to enhance asset recovery[127]. - The liquidity risk management framework has been continuously improved, enhancing the ability to measure and predict liquidity risks[136]. Customer and Market Engagement - The company provided over CNY 100 billion in credit support to key industries in the Chengdu-Chongqing economic circle and other significant strategic areas during the reporting period[13]. - The company has focused on improving financial service capabilities by restructuring and enhancing service quality, particularly for small and micro enterprises and rural residents[13]. - The bank's focus on enhancing retail customer service contributed to the growth in individual deposits and overall customer deposits[73]. - The bank actively promoted digital financial services, enhancing online channels and customer engagement through various marketing activities[106]. - The total number of debit cards issued increased by 275,900 to 5.6272 million, with transaction volume reaching CNY 7.019 billion during the reporting period[107]. Capital Management - The core tier 1 capital adequacy ratio improved to 10.16% as of June 30, 2024, compared to 9.78% at the end of 2023[20]. - The total capital net amount is CNY 71,588,827 thousand, with a total capital adequacy ratio of 13.77%[147]. - The bank's capital management strategy aims to meet regulatory requirements while improving capital return and risk resistance capabilities[145]. - The bank issued a 50 billion RMB subordinated capital bond in March 2022, with a fixed interest rate of 3.73% for ten years[151]. - The bank plans to utilize funds from a 25 billion RMB perpetual capital bond issued in October 2023 to supplement its other tier 1 capital[152]. Shareholder Commitments and Governance - The bank's shareholders have fulfilled their commitments regarding share transfer restrictions for a period of 36 months following the IPO[157]. - The company has committed to repurchase all newly issued A-shares if there are significant misstatements or omissions in the prospectus, with the repurchase price not lower than the issuance price plus applicable interest[169]. - The first major shareholder, Chongqing Yufu Capital Operation Group Co., Ltd., guarantees the accuracy and completeness of the prospectus, assuming legal responsibility for any misstatements[170]. - The company will compensate investors for losses if the prospectus is found to have significant omissions that affect investment decisions[171]. - The company has committed to a lock-up period of 36 months for its internal shareholders, starting from February 5, 2021, during which they cannot transfer their shares[162].
重庆银行(01963) - 2024 - 中期财报