Financial Performance - As of June 30, 2022, Luzhou Bank's total assets amounted to RMB 144.54 billion, an increase of 7.45% compared to RMB 134.51 billion at the end of 2021[9]. - The net interest income for the first half of 2022 was RMB 1.79 billion, representing a year-on-year growth of 19.15% from RMB 1.50 billion in the same period of 2021[8]. - The bank's net profit for the first half of 2022 reached RMB 643.62 million, a 14.17% increase compared to RMB 563.76 million in the first half of 2021[8]. - The bank's operating income for the first half of 2022 was RMB 2.36 billion, up 41.21% from RMB 1.67 billion in the same period of 2021[8]. - The company's net profit for the first half of 2022 was RMB 643.623 million, an increase of RMB 80.859 million or 14.17% year-on-year[15]. - Total operating income for the first half of 2022 reached RMB 2.359 billion, up RMB 688 million or 41.21% compared to the same period last year[17]. - The bank's basic earnings per share increased to RMB 0.20, up from RMB 0.17 in the same period of the previous year[8]. - The bank's total comprehensive income attributable to shareholders was RMB 690,029, compared to RMB 609,073 in the previous year, representing an increase of approximately 13.3%[166]. Asset and Liability Management - Customer loans totaled RMB 807.59 billion, while customer deposits reached RMB 1,063.62 billion, reflecting a growth of 7.78% and 12.23% respectively compared to the previous year[7]. - The bank's total liabilities as of June 30, 2022, were RMB 134,240,459 thousand, an increase of RMB 94,320,000 thousand or 7.56% compared to the end of 2021[59]. - Customer deposits reached RMB 106,362,072 thousand, up by RMB 11,594,000 thousand or 12.23% from RMB 94,768,521 thousand at the end of 2021, accounting for 79.23% of total liabilities[61]. - The bank's total equity as of June 30, 2022, was RMB 10,297,086 thousand, an increase of RMB 5,950,000 thousand or 6.13% from RMB 9,702,157 thousand at the end of 2021[64]. - The bank's total customer loans amounted to RMB 80.52 billion, an increase of 7.86% compared to the end of the previous year[66]. Risk Management - The bank's non-performing loan ratio increased to 1.48% from 1.42% at the end of 2021, indicating a slight deterioration in asset quality[9]. - Expected credit losses for the six months ended June 30, 2022, were RMB 859.36 million, an increase of RMB 497 million or 137.22% year-on-year[44]. - The bank's non-performing loans in the real estate sector accounted for a significant portion of total company non-performing loans, indicating a focus on high-risk industries[70]. - The bank has implemented measures to strengthen risk control, including monitoring overdue loans and developing tailored risk mitigation plans for non-performing loans[82]. - The bank's overdue loans within three months accounted for 50.73% of total overdue loans, amounting to RMB 1,074,725 thousand[79]. Operational Efficiency - The cost-to-income ratio improved to 27.35% from 33.98% in the previous year, indicating better operational efficiency[10]. - The bank's liquidity ratio for RMB assets to RMB liabilities was 79.16% as of June 30, 2022, down from 87.79% at the end of 2021[88]. - The bank's cash and cash equivalents at the end of June 2022 were RMB 6.82 billion, up from RMB 4.17 billion at the end of June 2021, indicating a growth of 63.5%[184]. Strategic Initiatives - Luzhou Bank plans to expand its branch network, with six new branches under construction in Chengdu and other areas[7]. - The company aims to leverage its location and policy advantages to implement a "one body, two wings" development strategy in the Chengdu-Chongqing economic circle[14]. - The bank is actively pursuing new strategies for market expansion, including potential mergers and acquisitions to strengthen its competitive position[135]. - Luzhou Bank is investing in new technologies to improve operational efficiency and customer service, aiming to enhance user experience[135]. Shareholder Information - The bank's total issued share capital remained unchanged at 2,717,752,062 shares as of June 30, 2022[128]. - The top three shareholders of domestic shares hold a combined total of 1,041,408,000 shares, representing 38.33% of the total share capital[131]. - Luzhou Bank reported a total of 390,528,000 shares held directly by Luzhou Laojiao Group, representing approximately 15.97% of the total issued shares[133]. Employee Management - As of June 30, 2022, the total number of employees in the company was 1,371, with an average age of 34.38 years[148]. - The company has implemented a performance pay deferral and clawback mechanism to promote stable operations and sustainable development[154]. - The company continues to enhance its employee training programs to support long-term development and improve training effectiveness[153].
泸州银行(01983) - 2022 - 中期财报