2024-03-25 16:00Financial Performance - Net profit for the year was RMB 148,006 million, up from RMB 139,294 million, reflecting a year-on-year increase of 6.14%[2] - Net interest income decreased to RMB 214,669 million, down 1.29% from RMB 218,235 million in the previous year[2] - Other net income rose to RMB 40,346 million, a significant increase of 25.01% year-on-year[13] - The retail financial business reported a pre-tax profit of RMB 99.913 billion, a year-on-year increase of 6.09%, accounting for 56.57% of the group's pre-tax profit[45] - The operating income for the retail financial business reached RMB 194.336 billion, up 1.52% year-on-year, representing 57.31% of the group's total operating income[45] Asset and Loan Growth - The total assets of the group reached RMB 110,284.83 billion, an increase of 8.77% compared to the end of the previous year[1] - Total loans and advances amounted to RMB 65,088.65 billion, growing by 7.56% year-on-year[1] - Total loans and advances reached RMB 6,508.87 billion, an increase of 7.56% compared to the end of the previous year[19] - Corporate loan balance was RMB 2,599.86 billion, growing by 9.44% year-on-year, with a non-performing loan amount of RMB 30.99 billion, representing a non-performing loan ratio of 1.19%[30] - Retail loan balance stood at RMB 3,437.88 billion, up 8.73% from the previous year, with non-performing loans totaling RMB 30.59 billion, maintaining a non-performing loan ratio of 0.89%[30] Customer Deposits - The total customer deposits amounted to RMB 815.5438 billion, a 8.25% increase from RMB 753.5742 billion at the end of the previous year[56] - Total customer deposit balance reached CNY 4,557.24 billion, an increase of 5.52% compared to the previous year[138] - The average daily balance of customer deposits was CNY 4,532.79 billion, up 6.42% year-on-year[138] - The average cost rate of RMB customer deposits was 1.56%, a year-on-year decrease of 4 basis points[85] Risk Management and Asset Quality - The group reported a credit impairment loss of RMB 41,278 million, a decrease from RMB 56,751 million in the previous year, indicating improved asset quality[2][16] - The provision coverage ratio for loan losses was 437.70%, down 13.09 percentage points from the previous year[38] - The non-performing loan balance increased to RMB 61.579 billion, a rise of RMB 3.575 billion year-on-year, with a non-performing loan ratio of 0.95%, down 0.01 percentage points[59] - The non-performing loan ratio for corporate loans improved to 1.15%, a decrease of 0.10 percentage points from the previous year[138] Digital Transformation and Technology - The monthly active users (MAU) of the bank's apps reached 117 million by the end of the reporting period[50] - The company invested RMB 14.126 billion in information technology, accounting for 4.59% of its operating income[81] - The company aims to enhance its digital financial capabilities and improve service quality through technology and innovation[102] - The company launched the intelligent wealth assistant "小招," which provides comprehensive financial management services[200] Market Presence and Strategy - The group plans to continue expanding its market presence and investing in new technologies to enhance service offerings[10] - The company plans to increase loans and advances by approximately 8% and customer deposits by around 10% in 2024[101] - The company is focusing on expanding its retail customer base and enhancing financial technology to innovate retail products[98] Customer Satisfaction and Service Quality - The company's customer complaints decreased by 35% year-on-year, reflecting improved service quality[84] - Customer satisfaction for remote online multi-channel services was reported at 99.10%[199] Capital Adequacy and Financial Stability - Core Tier 1 capital adequacy ratio was 13.73%, an increase of 0.05 percentage points year-on-year[39] - The bank's leverage ratio improved to 8.26%, up 0.31 percentage points from the previous year[39] - The group's core Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio, and capital adequacy ratio were 13.73%, 16.01%, and 17.88%, respectively, increasing by 0.05, 0.26, and 0.11 percentage points compared to the end of the previous year[70] International Business and Corporate Services - The international business volume for corporate foreign exchange transactions was USD 356.89 billion, a year-on-year increase of 4.90%[162] - The company served 37.06 million corporate clients through various online channels during the reporting period[137] - The number of corporate clients for tax withholding and payment services increased by 11.36% year-on-year, totaling 1.1978 million[137] Environmental and Social Responsibility - Green loan balance was 447.77 billion yuan, reflecting a growth of 26.00% year-on-year[108] - The balance of loans to small and micro enterprises increased by 25.27% year-on-year, reaching CNY 484.63 billion, with a non-performing loan ratio of 0.74%, down 0.26 percentage points[151]