2024-10-30 08:39Financial Performance - The net profit attributable to shareholders for Q3 2024 was RMB 16,336 million, reflecting a year-on-year increase of 6.31%[5] - For the first nine months of 2024, the bank achieved a net profit of RMB 51,826 million, a growth of 0.76% year-on-year[9] - The total operating income for the group in the first nine months of 2024 was RMB 162,210 million, an increase of 2% from RMB 156,228 million in the same period of 2023[60] - Net profit for the group reached RMB 52,531 million, slightly up from RMB 52,262 million year-on-year, indicating a stable performance[62] - The group's net profit for Q3 2024 was RMB 16,660 million, up 7.1% from RMB 15,555 million in Q3 2023[67] Assets and Liabilities - As of September 30, 2024, total assets reached RMB 9,259.25 billion, an increase of 2.28% compared to the end of 2023[4] - The bank's total liabilities were RMB 8,429.30 billion, an increase of 1.34% from the end of 2023[4] - The total assets of the group as of September 30, 2024, amounted to RMB 9,259,247 million, up from RMB 9,052,484 million at the end of 2023, showing a growth of approximately 2.3%[58] - The total liabilities and equity of the group reached RMB 9,259,247 million, indicating a robust financial position[58] Loans and Advances - Total loans and advances amounted to RMB 5,631.81 billion, up 2.43% from the end of 2023[4] - The bank's loan balances for manufacturing, strategic emerging industries, and private economy reached CNY 287.485 billion, CNY 586.266 billion, and CNY 1,322.979 billion respectively, with year-on-year growth rates of 11.18%, 10.23%, and 6.17%[11] - The personal housing mortgage loan balance was CNY 1,004.868 billion, an increase of 3.47% compared to the end of the previous year; the balance of personal inclusive loans reached CNY 407.567 billion, growing by 7.13%[11] Customer Deposits - Customer deposits totaled RMB 5,609.32 billion, marking a 3.91% increase compared to the end of 2023[4] - The bank's customer deposits totaled RMB 5,692,815 million, up from RMB 5,467,657 million year-over-year[56] - The net increase in customer deposits for the first nine months of 2024 was RMB 213,953 million, down from RMB 331,300 million in the same period of 2023[69] Income and Expenses - The net interest margin stood at 1.79%, a decrease of 0.03 percentage points year-on-year[9] - Non-interest income reached RMB 522.39 billion, growing by 11.17% year-on-year, driven by securities investments[9] - The total operating expenses for Q3 2024 were RMB 34,393 million, an increase from RMB 33,427 million in Q3 2023[65] Capital and Ratios - The core tier one capital adequacy ratio was 9.50%, while the tier one capital adequacy ratio was 11.61%, and the total capital adequacy ratio was 13.78%[37] - The leverage ratio as of September 30, 2024, is 7.35%, which is above the regulatory minimum of 4.25%[40] - The liquidity coverage ratio is 142.51% as of September 30, 2024, down from 167.48% as of December 31, 2023, but still above the regulatory requirement of 100%[41] Digital Transformation and Innovation - The bank launched several strategic projects, including the Tianyuan Treasury Standard Version 2.0 and Smart Online Banking 5.0, enhancing its digital financial capabilities[18] - The bank's digital transformation initiatives improved account opening efficiency by 50% and increased data entry accuracy from 60% to 90%[18] - The bank's "Smart Online Banking 5.0" was officially launched, improving customer service and operational capabilities[26] Risk Management - The group has implemented a comprehensive risk management system, focusing on key areas such as real estate and local government financing platforms[31] - The group has increased cash recovery efforts to address problem assets while maintaining asset quality stability[34] - The group is enhancing digital risk control capabilities, aiming to transition risk management from informatization to intelligence[34] Shareholder Information - The total number of ordinary shareholders as of the reporting period is 132,869, with 106,837 being A-share holders and 26,032 being H-share holders[43] - China CITIC Financial Holdings Limited holds 66.81% of the shares, making it the largest shareholder[43] Cash Flow - Cash flow from operating activities for the first nine months of 2024 was a net outflow of RMB 222,397 million, compared to a net inflow of RMB 4,461 million in the same period of 2023[69] - The net cash flow from investment activities for the group was RMB 35,055 million, a significant improvement from a net outflow of RMB 66,985 million in the same period last year[71] - The net cash flow from financing activities was RMB 176,043 million, recovering from a net outflow of RMB 77,049 million in the previous year[71]