Bank Of Shanghai(SH:601229)2022-08-25 16:00Financial Performance - The company's net interest income for the first half of 2022 was RMB 20,229,354 thousand, representing a 5.70% increase compared to RMB 19,138,091 thousand in the same period of 2021[19]. - Total operating income for the first half of 2022 was RMB 27,941,662 thousand, a slight increase of 0.86% from RMB 27,704,556 thousand in the first half of 2021[19]. - The company's net profit for the first half of 2022 reached RMB 12,693,556 thousand, reflecting a growth of 3.22% compared to RMB 12,297,354 thousand in the same period of 2021[19]. - The total assets of the company as of June 30, 2022, amounted to RMB 2,814,652,578 thousand, marking a 6.09% increase from RMB 2,653,198,679 thousand at the end of 2021[19]. - Total deposits amounted to RMB 1,552.72 billion, growing by 7.05% year-on-year, accounting for 59.66% of total liabilities[27]. - Total loans and advances reached RMB 1,277.48 billion, up 4.39% from the previous year, representing 45.39% of total assets[27]. - The company's net profit attributable to shareholders of the parent company was 12.674 billion RMB, reflecting a year-on-year growth of 3.23%[31]. - The group achieved operating income of 27.942 billion RMB, a year-on-year increase of 0.86%[32]. - The net profit margin improved slightly, with total profit amounting to 13.654 billion RMB, a 0.88% increase year-on-year[31]. Risk Management - The bank's risk management measures have effectively controlled various operational risks, ensuring a stable credit asset quality and profitability[2]. - The company has taken proactive measures to manage risks related to credit, market, liquidity, and operational aspects[2]. - The company maintained a stable non-performing loan ratio, ensuring that credit impairment losses remained at a reasonable level[14]. - The non-performing loan ratio remained stable at 1.25%[22]. - The provision coverage ratio improved to 302.24%, an increase of 1.11 percentage points from the previous year[29]. - The company has implemented differentiated control policies to mitigate risks in sectors affected by the pandemic, ensuring overall credit risk remains manageable[89]. - The company plans to focus on value customer management and enhance risk control measures to maintain retail loan asset quality[84]. Digital Transformation - The company is actively pursuing digital transformation, enhancing data-driven management capabilities and optimizing customer experience[18]. - The bank's digital transformation initiatives improved loan processing times, with online loan approvals reduced to under 30 minutes for certain products[130]. - The bank added over 2,700 new indicators and 150 models to its data platform, enhancing operational management and decision-making capabilities[131]. - The company has launched AI digital employees to provide 24/7 intelligent voice interaction services for customers[188]. - The company has developed and launched the "Yaoguang" distributed application development platform, enhancing its self-research capabilities and promoting agile development[183]. Support for Small and Micro Enterprises - The company provided convenient financing services to 18,796 small and micro enterprises, an increase of 4,997 enterprises, representing a growth rate of 36.21%[180]. - The company issued loans totaling 11.522 billion RMB to support small and micro enterprises during the pandemic, with 1,492 emergency service transactions recorded[189]. - The bank provided loan extensions and interest reductions to 3,528 clients affected by the pandemic, ensuring no loan withdrawals or cuts for medium-sized enterprises[126]. Asset Quality and Loan Performance - The company's retail loan non-performing rate was 0.97%, slightly up by 0.20 percentage points, influenced by the sporadic domestic pandemic affecting individual businesses and repayment capabilities[83]. - The NPL ratio for the real estate sector is 2.89%, a decrease of 0.16 percentage points from the previous year, indicating improved asset quality[87]. - The overdue loans and advances balance decreased by CNY 1,703,000,000 compared to the end of the previous year, with an overdue ratio of 1.86%, down 0.22 percentage points[97]. - The total impairment provision for loans and advances was CNY 48,168,937, reflecting a robust risk coverage capability[101]. Inclusive and Green Finance - The bank emphasized its commitment to inclusive finance, green finance, and technology innovation finance, enhancing its business structure to support the real economy[9]. - The balance of inclusive finance loans rose to CNY 87.84 billion, a year-on-year increase of 21.70%[138]. - Green loan issuance amounted to RMB 35.449 billion, a year-on-year increase of 245.41%[145]. - The balance of green finance loans surged by 96.93% to CNY 59.49 billion[138]. Customer Base and Engagement - The number of company customers increased by 3.08% to 266,100[138]. - Retail customer base increased to 19.93 million, a growth of 2.43% compared to the end of last year[165]. - The total assets under management (AUM) for retail customers reached CNY 947.221 billion, up 5.08% from the end of last year[165]. Capital and Funding - The capital adequacy ratio was 12.04%, down 0.12 percentage points from the end of the previous year[22]. - The group plans to issue 20 billion RMB in secondary capital bonds to support sustainable business development[29]. - The core tier 1 capital as of June 30, 2022, was CNY 187,903,968, an increase from CNY 181,445,480 at the end of 2021[103]. Operational Efficiency - The company has integrated 26 real-time data sources into its data platform, offering 360 real-time data tags and 255 standard API data services[187]. - The company has established a digital operation system that has doubled the conversion rate of customer journeys after optimization[188]. - The company improved its retail business structure, focusing on low-cost liabilities and enhancing pricing management[166].