Financial Performance - Operating income reached $16.255 billion, representing a 15% increase on a basic basis [4] - The return on tangible equity was 8.0%, an increase of 120 basis points on a basic basis [4] - The common equity tier 1 capital ratio stood at 14.0%, at the top end of the target range of 13-14% [4] - Total shareholder return increased by 41%, up 43 percentage points [4] - The company reported a 15% increase in revenue to 16.3 billion, the best performance since 2014, with a pre-tax basic profit also rising by 15% to 4.8 billion [41] - The tangible shareholder equity return increased to 8%, up 120 basis points year-on-year, with a target to exceed 11% by 2024 [41] - The total dividend has been increased by 50% to 18 cents per share, with a new share buyback plan of 1 billion announced [41] - The pre-tax profit increased by 15% to $4.8 billion, demonstrating effective strategy execution and improved shareholder returns, with a tangible equity return of 8% [53] - The company aims to increase tangible equity returns to nearly 10% in 2023 and over 11% in 2024, while also planning to return at least $5 billion in capital to shareholders by the end of 2024 [53] - The company achieved a positive income-to-cost growth differential of 6% in 2022, with a target of approximately 3% for 2023 and 2024 [54] Market Presence and Strategy - The bank serves over 10 million personal and small business customers, focusing on affluent and emerging affluent clients in rapidly developing cities [16] - The company operates in 21 markets in Asia, with Hong Kong and Singapore being the highest revenue contributors [23] - The company operates in 59 markets and provides services to an additional 64 markets [29] - The company aims to connect high-growth emerging markets in Asia, Africa, and the Middle East with developed economies in Europe and the Americas [40] - The company is focused on three strategic positions: accelerating zero emissions, reshaping globalization, and enhancing community engagement, aligning with its long-term business strategy [54] - The company is targeting high-return and high-growth markets to expand its international banking network [135] Sustainable Development and Innovation - The bank achieved 85.7% of its sustainable development goals, an increase of 2.8 percentage points [5] - The company facilitated sustainable financing of $23.4 billion in 2022, aiming for $30 billion by 2030 [42] - The company aims to achieve net-zero financing emissions by 2050, supporting a fair transition without hindering growth in emerging markets [42] - The company is committed to achieving net-zero emissions in operations by 2025 and in financing by 2050, with a roadmap approved by shareholders [60] - The company has implemented a sustainable development director role to enhance its response to climate challenges and opportunities [60] - The company is focused on supporting small and medium enterprises through digital channels and enhancing access to loans in Kenya [81] - The company promotes innovation and investment in disruptive financial technologies, with over 30 venture capital firms, including two cloud-native digital banks [86] Customer Engagement and Digital Banking - Trust Bank, launched in partnership with FairPrice Group in Singapore, attracted 450,000 customers within the first five months [42] - The company launched a digital bank, Trust, in Singapore and expanded its venture capital reporting structure to enhance transparency in technology and innovation investments [94] - Mox, a digital bank, achieved a customer base of over 400,000, doubling year-on-year, with an average of 3.1 products per customer [184] - The customer satisfaction index improved to 48.1% in 2022, up from 43.1% in 2021 [98] - The online application for retail products increased from 38% in 2020 to 48% by the end of 2022 [175] - The company introduced Trade Track-It, a digital trade transaction portal for real-time visibility of global trade transactions [155] Economic Outlook and Challenges - The global GDP growth slowed to approximately 3.4% in 2022, down from 6.0% in 2021, primarily due to rising inflation and tightening monetary policies [68] - Global growth is expected to slow to 2.5% in 2023, with the US projected to contract by 0.2% and the UK by 0.5% [70] - The tightening of fiscal policies in many economies may hinder growth, as public debt remains high and government deficits persist [71] - Emerging markets face long-term growth threats from rising nationalism and protectionism, although digital transformation may provide some offsetting benefits [71] - The economic recovery in Sub-Saharan Africa is expected to be moderate, with inflation pressures from rising food and fuel prices [81] - The U.S. economy faces a high risk of contraction in the first half of 2023, while the Eurozone is projected to experience a sharp decline in annual growth due to high inflation and central bank tightening measures [81] Governance and Corporate Culture - The board has welcomed four new independent non-executive directors in 2022, enhancing diversity and governance [48] - The company emphasizes continuous improvement and innovation as part of its corporate culture [24] - The company is committed to enhancing community engagement and reshaping globalization as part of its strategic focus [1]
渣打集团(02888) - 2022 - 年度财报