2023-08-29 16:00Loan and Advances - As of June 30, 2023, the total corporate loans amounted to RMB 12,554,153 million, an increase from RMB 10,741,230 million at the end of 2022, representing a growth of approximately 17%[1] - The short-term corporate loans were RMB 3,521,473 million, accounting for 28.1% of total corporate loans, while medium to long-term corporate loans were RMB 9,032,680 million, making up 71.9%[1] - The five major loan sectors (Transportation, Manufacturing, Leasing and Business Services, Power, and Water Management) accounted for 74.1% of total corporate loans, an increase of 0.7 percentage points from the previous year[2] - The balance of real estate loans as of June 30, 2023, was RMB 513,845 million, an increase of RMB 46,806 million compared to the end of the previous year[1] - The total personal loans reached RMB 7,977,304 million, up from RMB 7,545,282 million at the end of 2022[4] - The company issued a net loan and advance amount of RMB 20,915,065 million, an increase from RMB 18,982,886 million in the previous period, representing a growth of approximately 10.2%[68] - In the first half of 2023, the total loan and advance issued amounted to CNY 20,938.36 million, with interest income of CNY 401.43 million, reflecting an average yield of 3.87%, compared to CNY 17,991.67 million and CNY 376.99 million with an average yield of 4.23% in the same period of 2022[89] - The total amount of loans and advances reached RMB 21,791,905 million, up by RMB 20,280.78 million or 10.3% from the end of the previous year[124] Personal Loans - Personal housing loans reached RMB 5,317,120 million, representing 66.6% of total personal loans, while personal consumption loans increased to RMB 261,460 million, accounting for 3.3%[4] - The proportion of personal operating loans rose to 8.7%, up from 7.6% in the previous year, indicating a growing demand in this segment[4] Financial Performance - Net profit for the first half of 2023 was RMB 122,833 million, a decrease from RMB 133,831 million in the same period of 2022[60] - Net profit for the first half of 2023 was RMB 133,831 million, up from RMB 128,950 million in the same period of 2022, reflecting an increase of about 2.9%[68] - The company reported a basic earnings per share of RMB 0.37 for the first half of 2023, compared to RMB 0.35 in the first half of 2022, reflecting an increase of about 5.7%[70] - Total operating income for the first half of 2023 was RMB 365.76 billion, an increase of RMB 3.03 billion or 0.8% year-on-year[79] - The total operating revenue for the first half of 2023 reached RMB 365,758 million, a slight increase from RMB 362,732 million in the same period of 2022[119] Asset and Liability Management - Total assets reached RMB 38,033,395 million as of June 2023, an increase from RMB 33,925,488 million at the end of 2022[58] - The total liabilities as of June 30, 2023, were RMB 35,312,689 million, an increase from RMB 31,253,082 million at the end of 2022, representing a growth of approximately 12.9%[68] - Total deposits increased to RMB 28,231,053 million as of June 2023, compared to RMB 25,121,040 million at the end of 2022[61] Risk Management - The bank's management emphasized the importance of risk awareness in light of potential market fluctuations and regulatory changes[13] - The bank will focus on risk management, particularly in real estate and other key sectors, to mitigate credit risks[74] - The bank's focus on digital risk management has enhanced its ability to identify and mitigate credit risks, particularly in key sectors such as real estate and small enterprises[161][162] - The bank's overall asset quality remains stable, supported by effective credit risk management and adherence to national macroeconomic policies[159] Non-Performing Loans - Non-performing loan ratio was 1.35% as of June 2023, slightly improved from 1.43% at the end of 2022[64] - The balance of non-performing loans stood at RMB 294.39 billion, an increase of RMB 23.33 billion from the end of the previous year[146] - The non-performing loan ratio is 1.35%, a decrease of 0.02 percentage points compared to the end of the previous year, with non-performing loans amounting to RMB 294,387 million[156] Interest Income and Expenses - The interest income from loans and advances was RMB 401,431 million, a year-on-year increase of RMB 24,436 million, or 6.5%, primarily due to the growth in loan issuance[5] - Interest expenses totaled CNY 310.66 billion, an increase of CNY 68.11 billion year-on-year, driven by an increase in the average balance of interest-bearing liabilities by CNY 5,147.48 billion[93] - The average yield on interest-earning assets decreased to 3.43%, down from 3.66% in the previous year[82] - The bank's average loan yield for the first half of 2023 was 3.99%, down from 4.38% in the same period of 2022[173] Capital Management - The capital adequacy ratio stood at 16.25% as of June 30, 2023, down from 17.20% at the end of 2022, indicating a decrease in capital buffer[70] - The bank is implementing a capital management plan for 2022-2024, aiming to maintain a reasonable and robust capital adequacy level while enhancing its ability to serve the real economy[199] Operational Efficiency - Cost-to-income ratio for the first half of 2023 was 26.03%, compared to 24.54% in the same period of 2022[65] - The bank's cost-to-income ratio improved to 26.45% in the first half of 2023, down from 27.87% in the same period of 2022[173] Digital Transformation and Development - The company aims to accelerate digital transformation projects to enhance integrated online and offline operational capabilities[74] - The company plans to continue supporting rural revitalization and agricultural development, enhancing financial services for food security and rural industries[74]