Financial Performance - Jinshang Bank reported a net profit of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[1]. - The bank's total assets reached RMB 150 billion, up 10% compared to the same period last year[1]. - Customer deposits grew by 12% to RMB 120 billion, indicating strong customer confidence and market position[1]. - Net profit attributable to equity holders rose by 10.3% to RMB 972.3 million, compared to RMB 881.8 million in the previous year[15]. - The net profit for the first half of 2022 was RMB 970 million, an increase of RMB 90 million compared to the same period last year[29]. - The group's pre-tax profit increased by 10.1% to RMB 974.5 million for the six months ended June 30, 2022, compared to RMB 885.1 million for the same period in 2021[37]. - Net profit rose by 10.0% to RMB 970.4 million for the six months ended June 30, 2022, up from RMB 881.9 million in the previous year[37]. Asset Quality - The non-performing loan ratio improved to 1.5%, down from 1.8% in the previous year, reflecting better asset quality management[1]. - The non-performing loan ratio improved slightly to 1.82% from 1.84% in the previous year[19]. - The non-performing loan ratio was 1.82% as of June 30, 2022, a decrease of 0.02 percentage points from the beginning of the year[29]. - The total amount of non-performing corporate loans was RMB 2,787.9 million as of June 30, 2022, with an NPL ratio of 2.65%, up from RMB 2,453.9 million and 2.50% as of December 31, 2021[156]. - The NPL ratio for corporate loans increased from 2.50% as of December 31, 2021, to 2.65% as of June 30, 2022, with the NPL balance rising from RMB 2,453.9 million to RMB 2,787.9 million[168]. - The NPL ratio for personal loans decreased from 1.51% as of December 31, 2021, to 1.44% as of June 30, 2022, with the NPL balance declining from RMB 404.6 million to RMB 393.4 million[168]. Revenue and Income Sources - The bank has set a target for a 10% growth in net interest income for the full year 2022, driven by increased lending activities[1]. - Net interest income for the first half of 2022 was RMB 1,680.2 million, a slight decrease of 0.2% compared to RMB 1,683.4 million in 2021[15]. - Total operating income increased by 0.3% to RMB 2,569.8 million from RMB 2,561.5 million year-on-year[15]. - Total interest income for the first half of 2022 was RMB 5,220.7 million, an increase of 4.4% from RMB 4,999.9 million in 2021[35]. - Interest income from loans and advances rose by 12.0% to RMB 3,850.1 million, driven by a 15.4% increase in average customer loans and advances to RMB 166,082.7 million[50]. - Interest income from financial investments decreased by 14.9% to RMB 960.6 million, attributed to a decline in average yield from 3.68% to 3.42%[52]. Operational Efficiency and Strategy - The bank plans to expand its branch network by 20% over the next year to enhance customer service and market reach[1]. - Investment in technology and digital banking solutions increased by 25%, aiming to improve operational efficiency and customer experience[1]. - The group is focusing on digital transformation and risk management to enhance operational efficiency and prevent systemic financial risks[36]. - The bank plans to accelerate product innovation and digital governance to strengthen internal management foundations and improve risk control capabilities[36]. - The company is advancing its wealth management transformation and has initiated a unified wealth management open platform project[31]. Risk Management - Strategic initiatives include enhancing risk management frameworks to mitigate potential impacts from economic fluctuations[1]. - The company has strengthened its comprehensive risk management system and improved risk management policies to mitigate various risks, including credit and market risks[192]. - The bank faces market risk primarily from interest rate fluctuations, which impact revenue changes and asset price volatility[197]. - The bank has established a liquidity risk management framework, with the board ultimately responsible for overseeing liquidity risk management[200]. - Regular liquidity stress tests are conducted to adjust the asset-liability structure based on test results, ensuring adequate high-quality liquid assets to cope with external liquidity pressures[200]. Capital and Liabilities - The capital adequacy ratio decreased to 11.93% from 12.02% year-on-year[20]. - The bank's total liabilities increased by 4.3% to RMB 293,245.4 million from RMB 281,133.9 million[18]. - As of June 30, 2022, the total equity of the group was RMB 22,563.0 million, an increase of 1.8% from RMB 22,157.6 million as of December 31, 2021[141]. - The company's leverage ratio as of June 30, 2022, was 6.07%, a decrease of 0.11 percentage points from 6.18% at the end of 2021[191]. Customer Deposits and Loans - The company's deposit balance was RMB 226.72 billion, with a net increase of RMB 31.45 billion or 16.1% compared to the beginning of the year[29]. - The loan balance stood at RMB 174.61 billion, reflecting a net increase of RMB 18.87 billion or 12.1% year-to-date[29]. - Customer deposits rose by 16.2% to RMB 231,521.2 million as of June 30, 2022, from RMB 199,207.2 million as of December 31, 2021[134]. - Personal loans amounted to RMB 27,345.7 million, a 1.8% increase from RMB 26,872.0 million as of December 31, 2021, driven by the growth in housing mortgage loans and personal consumption loans[108]. - The total amount of loans and advances was RMB 174,612.5 million for the six months ended June 30, 2022, compared to RMB 155,740.5 million for the same period in 2021[100].
晋商银行(02558) - 2022 - 中期财报