Financial Performance - Interest income for the six months ended June 30, 2023, was RMB 5,718.4 million, an increase of 9.5% from RMB 5,220.7 million in the same period of 2022[6]. - Net interest income rose by 20.7% to RMB 2,028.3 million, compared to RMB 1,680.2 million in the previous year[6]. - Total operating income increased by 10.3% to RMB 2,834.7 million, up from RMB 2,569.8 million in the prior year[6]. - Net profit attributable to equity holders of the bank was RMB 1,034.1 million, reflecting a growth of 6.4% from RMB 972.3 million in the same period last year[7]. - For the six months ended June 30, 2023, the company's pre-tax profit increased by 6.8% to RMB 1,041.0 million from RMB 974.5 million for the same period in 2022[18]. - The net profit for the same period rose by 6.5% to RMB 1,033.0 million, compared to RMB 970.4 million in the previous year[18]. Asset Quality - The non-performing loan ratio improved to 1.72% from 1.80% year-on-year, indicating better asset quality[9]. - The non-performing loan ratio decreased to 1.72%, down by 0.08 percentage points from the beginning of the year[14]. - The non-performing loan ratio decreased to 1.72% as of June 30, 2023, down by 0.08 percentage points from 1.80% as of December 31, 2022[74]. - The non-performing loan ratio for corporate loans decreased from 2.52% to 2.26% due to active recovery measures and improved performance of some corporate clients[85]. - Personal loans' non-performing loan ratio increased from 2.06% to 2.29%, with total non-performing loans rising from RMB 594.4 million to RMB 698.0 million, attributed to economic changes and real estate sector downturns[85]. Capital and Liquidity - The bank's capital adequacy ratio stood at 12.45%, up from 12.40% at the end of 2022, demonstrating a stable capital position[9]. - The net stable funding ratio was reported at 133.90%, indicating a strong liquidity position[10]. - The total equity increased by 2.2% to RMB 23,862.5 million from RMB 23,353.6 million, attributed to the increase in retained earnings from net profit[72]. - The company's leverage ratio was 6.05%, an increase of 0.03 percentage points from 6.02% as of December 31, 2022, remaining above the regulatory minimum of 4%[99]. Loans and Advances - The bank's total assets reached RMB 341,982.9 million, with net loans and advances amounting to RMB 188,883.3 million, marking a 1.7% increase in total assets[8]. - The total amount of loans and advances issued was RMB 194,385.1 million as of June 30, 2023, compared to RMB 186,051.9 million as of December 31, 2022[90]. - The total amount of corporate loans increased from RMB 109,512.0 million as of December 31, 2022, to RMB 116,809.5 million as of June 30, 2023[78]. - The total amount of personal loans reached RMB 30,484.3 million, an increase of 5.8% from RMB 28,806.8 million as of December 31, 2022[55]. Interest Income and Expense - Interest income from loans and advances increased by 5.7% to RMB 4,068.6 million for the six months ended June 30, 2023, from RMB 3,850.1 million for the same period in 2022[24]. - Interest expense increased by 4.2% to RMB 3,690.1 million for the six months ended June 30, 2023, from RMB 3,540.5 million for the same period in 2022[30]. - Interest expense on deposits rose by 16.4% to RMB 3,143.3 million for the six months ended June 30, 2023, from RMB 2,699.6 million for the same period in 2022[31]. Operating Expenses - Operating expenses increased by 9.2% from RMB 870.3 million for the six months ended June 30, 2022, to RMB 950.3 million for the six months ended June 30, 2023[40]. - Personnel costs increased by 2.2% from RMB 529.3 million for the six months ended June 30, 2022, to RMB 541.0 million for the six months ended June 30, 2023[41]. - Other general and administrative expenses rose by 53.1% from RMB 124.4 million for the six months ended June 30, 2022, to RMB 190.5 million for the six months ended June 30, 2023[46]. Risk Management - Risk management measures are being strengthened to ensure safe development and compliance with major regulatory policies[16]. - The company has established a comprehensive risk management system, focusing on credit risk, market risk, liquidity risk, operational risk, information technology risk, reputation risk, and strategic risk[100]. - The company actively monitors loan quality and optimizes asset preservation management, establishing a specialized asset preservation department to enhance recovery efficiency[101]. Strategic Initiatives - The company focused on increasing credit investment in traditional manufacturing upgrades and strategic emerging industries[14]. - The company is enhancing its marketing capabilities through initiatives targeting new customer acquisition and improving customer manager performance[15]. - The company is focusing on digital transformation, enhancing customer-centric products and upgrading mobile banking services[16]. Shareholder Returns - The net profit for the period was RMB 1,034,158 thousand, contributing to an overall comprehensive income of RMB 1,092,707 thousand[140]. - The company reported a total dividend of RMB 583.9 million for the fiscal year 2022, with a final dividend of RMB 10.0 per 100 shares[128]. - The company does not recommend paying an interim dividend for the six months ending June 30, 2023[128].
晋商银行(02558) - 2023 - 中期业绩