ICBC(01398)2023-04-28 08:30Financial Performance - Operating income for Q1 2023 was RMB 218,461 million, a decrease of 3.52% compared to RMB 226,858 million in Q1 2022[3] - Net profit attributable to shareholders was RMB 90,164 million, showing a slight increase of 0.02% from RMB 90,633 million in the previous year[3] - In Q1 2023, the company achieved a net profit of RMB 90.77 billion, a year-on-year increase of 0.50%[15] - Total operating income for Q1 2023 was RMB 218.46 billion, a decrease of 3.52% compared to the same period last year[15] - The bank's pre-tax profit for the first quarter of 2023 was RMB 106,586 million, down from RMB 110,805 million in the same quarter of 2022, a decrease of approximately 3.0%[25] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 8.42% to RMB 1,105,614 million from RMB 1,207,219 million in Q1 2022[3] - The net cash flow from operating activities for the first quarter of 2023 was RMB 1,105,614 million, compared to RMB 1,207,219 million in the same period of 2022, reflecting a decrease of approximately 8.4%[27] - The net cash flow from investing activities for the first quarter of 2023 was RMB (318,788) million, compared to RMB (117,119) million in the same period of 2022, indicating a significant increase in cash outflow[27] - The liquidity coverage ratio was reported at 112.59% for the first quarter of 2023, indicating a strong liquidity position[31] - The bank's qualified liquid assets totaled RMB 6,605,598 million as of March 31, 2023[31] Assets and Liabilities - Total assets as of March 31, 2023, reached RMB 42,033,895 million, reflecting a growth of 6.12% from RMB 39,609,657 million at the end of 2022[3] - The total liabilities as of March 31, 2023, were RMB 38,432,323 million, compared to RMB 36,094,727 million at the end of 2022, marking an increase of approximately 6.5%[24] - The total adjusted on-balance and off-balance sheet assets reached RMB 44,231,978 million as of March 31, 2023, up from RMB 41,780,554 million at the end of 2022[30] Shareholder Information - The number of ordinary shareholders as of the report date was 713,934, with 109,959 H-share shareholders and 603,975 A-share shareholders[5] - The top shareholder, Central Huijin Investment Ltd., held 34.71% of A-shares, totaling 123,717,852,951 shares[6] - The total number of shares held by the top 10 ordinary shareholders accounted for a significant portion of the company's equity, with the largest shareholder holding over 34%[6] Capital Adequacy - The core Tier 1 capital adequacy ratio stood at 13.70%, meeting regulatory requirements[16] - The tier 1 capital ratio was reported at 15.22% for March 31, 2023, down from 15.64% as of December 31, 2022[29] - The total capital ratio decreased to 18.79% as of March 31, 2023, compared to 19.26% at the end of 2022[29] - The leverage ratio stood at 8.05% as of March 31, 2023, slightly down from 8.32% on December 31, 2022[30] - The bank continues to focus on enhancing its capital adequacy and liquidity positions to support future growth and market expansion strategies[32] Deposits and Loans - Customer deposits rose by 7.08% to RMB 31,983.87 billion, with time deposits at RMB 17,806.43 billion[15] - Customer deposits amounted to RMB 31,983,874 million, up from RMB 29,870,491 million, indicating a growth of about 7.1%[24] - Total assets increased by 6.12% to RMB 42,033.90 billion, with customer loans totaling RMB 24,525.20 billion, up 5.66%[15] Non-Performing Loans - The non-performing loan (NPL) balance was RMB 33.76 billion, maintaining a non-performing loan ratio of 1.38%[16] Operating Expenses - The cost-to-income ratio for Q1 2023 was 20.80%, with operating expenses increasing by 5.39% to RMB 45.43 billion[15] Financial Investments - The bank's financial investments recorded a net income of RMB 879,856 million for the first quarter of 2023, an increase from RMB 747,474 million year-over-year, representing a growth of about 17.6%[23] Debt Issuance - The company issued RMB 55 billion in subordinated debt in April 2023 to supplement its Tier 2 capital[17]