PSBC(601658)2025-04-29 10:05Financial Performance - Net profit for Q1 2025 was RMB 25,362 million, down 2.29% from RMB 25,957 million in Q1 2024[6] - The company achieved operating income of 89.363 billion yuan and net profit attributable to shareholders of 25.246 billion yuan[23] - The company achieved operating income of CNY 89.363 billion, a decrease of 0.07% year-on-year, and net profit of CNY 25.362 billion, down 2.29% year-on-year[36] - The total comprehensive income for the group was RMB 20,879 million, a decrease of 23.9% from RMB 27,402 million in the previous year[57] - The bank's profit before tax for Q1 2025 was 27.252 billion RMB, compared to 28.760 billion RMB in Q1 2024[56] Assets and Liabilities - Total assets increased to RMB 17,689,399 million, a growth of 3.54% compared to the end of 2024[4] - The bank's total liabilities as of March 31, 2025, amounted to 16,693.0 billion RMB, up from 16,053.3 billion RMB at the end of 2024[55] - The total available stable funding is RMB 15,038,926 million as of March 31, 2025, an increase from RMB 14,555,976 million as of December 31, 2024[61] - Total on-balance sheet assets (excluding derivatives and securities financing transactions) increased to RMB 17,685,791 million as of March 31, 2025, from RMB 17,103,062 million as of December 31, 2024, representing a growth of 3.39%[69] Customer Loans and Deposits - Total customer loans reached RMB 9,356,188 million, reflecting a 4.97% increase year-on-year[4] - Customer deposits rose to RMB 15,976,534 million, marking a 4.51% increase from the previous year[4] - Retail loans showed resilience, with an increase of 3,619.93 billion yuan, representing a year-on-year growth of 9.92%[23] - Total deposits increased by 688.993 billion yuan, with a year-on-year increase of 169.09 billion yuan, improving the deposit-to-liability ratio by 0.48 percentage points[23] Capital Adequacy and Ratios - Core Tier 1 capital adequacy ratio stood at 9.21%, down from 9.56% at the end of 2024[13] - The total capital adequacy ratio stands at 13.34% as of March 31, 2025, compared to 14.44% as of December 31, 2024[61] - The liquidity coverage ratio is 224.63% as of March 31, 2025, a decrease from 287.28% as of December 31, 2024[61] - The leverage ratio is 5.34% as of March 31, 2025, compared to 5.72% as of December 31, 2024[66] Income and Expenses - Operating cash flow decreased significantly by 66.38%, totaling RMB 75,695 million compared to RMB 225,146 million in the same period last year[11] - The bank's net interest income for Q1 2025 was 68.857 billion RMB, a decrease from 71.573 billion RMB in Q1 2024[56] - The company reported a net interest income of CNY 68.857 billion, a decline of 3.79% year-on-year, with a net interest margin of 1.71%[37] - The bank's credit impairment losses increased to 10.717 billion RMB in Q1 2025 from 6.984 billion RMB in Q1 2024[56] Shareholder Information - The number of ordinary shareholders reached 182,920, including 180,558 A-share shareholders and 2,362 H-share shareholders[14] - The bank's equity attributable to shareholders decreased by 3.44% to RMB 994,297 million[4] - Basic and diluted earnings per share were RMB 0.24, a decline of 4.00% compared to RMB 0.25 in Q1 2024[6] - The total cash dividend for the fiscal year 2024 is approximately 25.941 billion RMB, with a final cash dividend of 1.139 RMB per 10 shares[50] Risk Management - The non-performing loan ratio remained at 0.91%, with a provision coverage ratio of 266.13%[23] - The company’s credit impairment losses rose by 53.45% year-on-year to CNY 10.717 billion, indicating increased credit risk[41] - The non-performing loan balance increased to CNY 85.294 billion, with a non-performing loan ratio of 0.91%, up 0.01 percentage points from the previous year[46] Digital Transformation and Innovation - The company is focusing on enhancing its digital transformation and integrating innovative technologies to improve service efficiency and customer experience[32] - The company has opened over 10 million personal pension accounts, promoting personal pension business rapidly[26] Additional Financial Activities - The company plans to issue CNY 30 billion of additional tier 1 capital bonds to strengthen its capital base[48] - The bank plans to fully redeem the 800 billion RMB perpetual capital bonds issued in 2020 by March 2025[49] - The bank's A-share issuance plan aims to raise 130 billion RMB to supplement its core Tier 1 capital, pending regulatory approval[49]