2023-04-28 16:00Financial Performance - Net profit attributable to shareholders was RMB 19.14 billion, a 10.34% increase year-on-year[6] - Basic earnings per share rose to RMB 0.39, representing an increase of 11.43% compared to the same period last year[6] - Total operating income for Q1 2023 was RMB 51,363 million, a decrease of 5.5% from RMB 54,030 million in Q1 2022[43] - Net profit for Q1 2023 reached RMB 19,445 million, up 10.3% from RMB 17,538 million in Q1 2022[44] - The total profit before tax for Q1 2023 was RMB 22,511 million, an increase of 6.5% from RMB 21,127 million in Q1 2022[44] - The bank's basic earnings per share for Q1 2023 was RMB 0.39, compared to RMB 0.35 in Q1 2022, reflecting a growth of 11.4%[45] - The bank's total comprehensive income for Q1 2023 was RMB 20,042 million, compared to RMB 14,199 million in Q1 2022, marking a growth of 41.1%[45] Asset and Liability Management - Total assets reached RMB 8,786.55 billion, an increase of 2.80% compared to the end of 2022[4] - Total liabilities were RMB 8,080.74 billion, reflecting a 2.79% increase from the end of 2022[4] - Customer deposits totaled RMB 5,438.81 billion, a growth of 6.66% compared to the end of 2022[4] - Total loans and advances amounted to RMB 5,345.94 billion, up 3.75% from the end of 2022[4] - The bank's loans and advances to customers stood at RMB 5,228,738 million as of March 31, 2023, up from RMB 5,038,967 million at the end of 2022, marking an increase of about 3.8%[38] - CITIC Bank's customer deposits reached RMB 5,492,958 million as of March 31, 2023, compared to RMB 5,157,864 million at the end of 2022, representing a growth of approximately 6.5%[39] Loan Growth - Corporate loans (excluding discounts) increased by 8.38% to RMB 27,354.32 billion compared to the end of 2022[11] - Personal loans (excluding credit cards) grew by 1.80% to RMB 16,347.91 billion compared to the end of 2022[11] - The balance of inclusive small and micro enterprise loans increased by CNY 36.638 billion to CNY 482.630 billion, with a growth rate exceeding the overall loan growth by 2.53 percentage points[15] - The bank's general corporate loan balance was CNY 2,510.235 billion, an increase of CNY 210.839 billion, marking a historical high for the same period[16] - The bank's credit card loan balance reached CNY 517.811 billion, achieving the best growth in nearly three years[17] Non-Performing Loans and Risk Management - The non-performing loan (NPL) balance was CNY 64.910 billion, a decrease of CNY 0.303 billion from the end of the previous year, with an NPL ratio of 1.21%, down 0.06 percentage points[20][21] - The provision coverage ratio increased to 208.87%, up 7.68 percentage points from the end of the previous year[20][21] - The average mortgage loan-to-value ratio remained stable at approximately 36%, indicating strong risk resistance[19] Capital Adequacy and Liquidity - The core Tier 1 capital adequacy ratio was 8.75%, an increase of 0.01 percentage points compared to the end of the previous year[22][23] - The total capital adequacy ratio decreased to 13.10%, down 0.08 percentage points from the end of the previous year[22][23] - The leverage ratio stood at 6.65%, well above the regulatory minimum of 4.25%[25] - The liquidity coverage ratio was 149.95%, significantly above the regulatory requirement of 100%[26] - The bank's qualified liquid assets amounted to CNY 1,123.987 billion, an increase from CNY 1,087.933 billion at the end of the previous year[26] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 135,442, with A-share shareholders numbering 108,466 and H-share shareholders at 26,976[28] - CITIC Limited held 31,988,728,773 shares, representing 65.37% of the total shares, while the total shares held by CITIC Group and its subsidiaries amounted to 32,284,227,773 shares, or 65.97%[29] - The top ten ordinary shareholders included CITIC Limited, Hong Kong Central Clearing (Agent) Limited, and China Tobacco Corporation, with their respective holdings of 65.37%, 23.61%, and 4.39%[28] - The total number of shares held by Hong Kong Central Clearing (Agent) Limited was 11,553,878,212 H-shares, accounting for 23.61% of the total shares[28] - The preferred shareholders' holdings are primarily from insurance companies, with significant stakes held by China Life Insurance and Ping An Life Insurance[31] Management Changes - The bank appointed Liu Cheng as the new president on April 17, 2023, following the resignation of Fang Heping from the position[35] Cash Flow Analysis - The net cash flow from operating activities was a negative RMB 12.73 billion, a decline of 142.79% compared to the same period last year[9] - The total cash inflow from operating activities increased to RMB 497,241 million in Q1 2023, up from RMB 407,377 million in Q1 2022, reflecting a growth of about 22.1%[47] - The net cash flow from investment activities for the group increased to RMB 89,793 million in Q1 2023, compared to RMB 25,463 million in Q1 2022, marking an increase of approximately 252.5%[48] - Cash inflow from financing activities rose to RMB 206,904 million in Q1 2023, compared to RMB 174,692 million in Q1 2022, indicating an increase of about 18.4%[48]