BOB(601169) 中金在线·2024-04-12 06:01Financial Performance - The company achieved a revenue of RMB 66.711 billion in 2023, a slight increase of 0.66% year-on-year, with operating profit reaching RMB 28.11 billion, up 4.33%, and net profit attributable to shareholders of RMB 25.624 billion, a 3.49% increase [1] - Net interest income accounted for 75.47% of total revenue at RMB 50.35 billion, a decrease of 2.15% year-on-year, while net fee and commission income dropped by 46.9% to RMB 3.752 billion [1][2] - Other net income surged by 62.65% to RMB 12.609 billion, driven by investment income, asset disposal gains, and fair value changes [2][3] Asset and Liability Structure - Total assets reached RMB 3.748679 trillion by the end of 2023, a 10.65% increase year-on-year, maintaining its position as the largest city commercial bank [5] - Total liabilities grew by 11.15% to RMB 3.420447 trillion, with customer deposits increasing by 8.18% to RMB 2.069791 trillion [5][6] - Loans and advances totaled RMB 2.015552 trillion, up 12.14% year-on-year, with corporate loans increasing by 16.62% to RMB 1.169317 trillion [5][6] Interest Rate and Profitability Metrics - The net interest margin (NIM) declined to 1.54% in 2023 from 1.76% in 2022, while the net interest spread narrowed to 1.53% from 1.71% [4] - Return on assets (ROA) decreased to 0.72% from 0.77% in 2022, and return on equity (ROE) fell to 9.32% from 9.6% [4] Loan Portfolio and Risk Management - Corporate loans accounted for 65.14% of total loans, with general loans and advances making up 56.65% [8] - Personal loans increased by 9.8% to RMB 702.581 billion, with personal consumption loans growing significantly, while personal housing loans decreased by RMB 13.1 billion [6][7] - The non-performing loan (NPL) ratio improved to 1.32%, down 0.11 percentage points year-on-year, with a provision coverage ratio of 216.78%, up 6.74 percentage points [9] Regional and Sectoral Focus - 43.27% of the company's loans were allocated to the Beijing region, with over 80% distributed across Jiangsu, Zhejiang, and Shenzhen [5] - The company emphasized strict control over large credit exposures, inter-regional credit, and high-leverage enterprises to mitigate risks [9]