Annual Report and Financial Overview - The bank's 2023 annual report was approved by the board on March 28, 2024, with all 15 directors present[7]. - The financial report for 2023 was audited by Deloitte, receiving a standard unqualified opinion[7]. - The financial data and indicators in the report are prepared according to International Financial Reporting Standards, with all amounts presented in Renminbi[8]. - The bank's 2023 annual report is available on the Hong Kong Stock Exchange and the bank's official website[1]. - The bank's board guarantees the accuracy and completeness of the information in the annual report, taking joint responsibility for any misstatements[7]. - The report outlines the bank's strategic plans and future outlook, emphasizing the importance of understanding the difference between plans, forecasts, and commitments[8]. - Total assets reached CNY 1,732.734 billion, an increase of 4.42% year-on-year[13]. - Total liabilities amounted to CNY 1,618.331 billion, growing by 4.44% compared to the previous year[13]. - Net assets stood at CNY 114.403 billion, reflecting a year-on-year increase of 4.05%[13]. - The net asset per share attributable to ordinary shareholders was CNY 5.32, up by CNY 0.25 from the previous year[13]. - The bank's H shares are listed on the Hong Kong Stock Exchange under stock code 9668[5]. Profit and Loss - Operating revenue for 2023 was RMB 24,997,370, a decrease of 5.55% compared to RMB 26,465,220 in 2022[25]. - Pre-tax profit decreased by 20.71% to RMB 5,163,077 from RMB 6,511,454 in the previous year[25]. - Net profit for 2023 was RMB 5,080,903, down 16.81% from RMB 6,107,475 in 2022[25]. - The net interest margin for 2023 was 1.19%, down 0.26 percentage points from 1.45% in 2022[28]. - Net interest income decreased by 22.16% to CNY 17.645 billion, while non-interest income increased by 93.63% to CNY 7.351 billion[44]. - The commission and fee income rose by 43.42% to RMB 5,077,664 thousand in 2023, up from RMB 3,540,479 thousand in the previous year[79]. Risk Management - The report includes a comprehensive risk management section detailing the main risks faced by the bank and the measures taken to address them[8]. - The management emphasizes the importance of risk management and maintaining asset quality amidst ongoing business transformation[14]. - The bank has implemented a comprehensive risk management framework, with a focus on proactive and agile risk control measures[143]. - The bank's unified credit management system has been upgraded, optimizing 48 management policies and processes to enhance credit risk control[147]. - The bank's liquidity risk management strategy aims to balance liquidity, safety, and profitability while ensuring sufficient high-quality liquid assets[153]. Awards and Recognition - The bank received multiple awards, including the "2023 Inclusive Finance Service Bank Award" and "2023 Cross-border Financial Leading Bank" among others[11]. - The bank was recognized as the "Annual Pension Financial Service Institution" at the 2023 Asset Management Summit Forum[23]. - The bank's wealth management products won the "Outstanding Net Value Wealth Management Product Award" at the 2023 Asset Management and Wealth Management Industry Development Conference[22]. Strategic Initiatives and Future Outlook - The bank aims to enhance financial service quality and support the real economy as part of its high-quality development strategy[12]. - The bank plans to deepen its strategic initiatives and focus on high-quality development in 2024, aligning with national economic goals[12]. - The bank's operational strategy includes revitalizing existing assets, fostering new growth, and improving service quality[11]. - The bank's strategic focus includes enhancing customer service with comprehensive solutions across various customer needs and lifecycle stages[35]. - The bank will implement ten special initiatives to promote high-quality development and enhance its service capabilities[191]. Customer and Market Performance - The total number of retail customers reached 7.71 million, an increase of 990,000 or 14.74%[116]. - Retail deposits reached CNY 201.002 billion, showing a significant increase of 19.13% compared to the previous year[41]. - The bank's market share for total deposits in mainland China was 2.16%, with a loan market share of 2.23%[76]. - The number of total customers increased by 13.61% to 105,432, while effective customers grew by 15.05% to 64,298[106]. Digital Transformation and Technology - The bank is focusing on digital transformation and data governance to support business development[192]. - The bank's technology investment reached 1.4 billion yuan during the reporting period, focusing on digital transformation and innovation[138]. - The bank's online digital operations saw a significant increase, with monthly active users on mobile banking doubling, enhancing customer experience and service capabilities[132]. - The bank's wealth management subsidiary launched on February 3, 2023, issuing a total of 504 wealth management products with a total sales amount of 771.92 billion yuan[130]. Compliance and Governance - The bank emphasizes compliance and risk control, monitoring key events and behaviors closely[192]. - The bank has strengthened its anti-money laundering (AML) management system, with no significant AML risk events reported during the reporting period[175]. - The bank's compliance risk management involves proactive identification and control of compliance risks associated with new products and major projects[174]. Economic Context - In 2023, the GDP of China grew by 5.2% year-on-year, with retail sales increasing by 7.2% and fixed asset investment rising by 3.0%[31]. - Domestic demand expansion is crucial for China's economic recovery, with macro policies expected to strengthen counter-cyclical adjustments[188]. - The bank anticipates a continued low-level fluctuation in net interest margins, with asset quality pressures remaining a concern[189].
渤海银行(09668) - 2023 - 年度业绩