CM BANK(03968)2024-03-25 12:35Asset Quality and Loans - The non-performing loan ratio as of the end of 2023 was 0.95%, indicating stable overall asset quality, with a provision coverage ratio of 437.70%[11] - The total amount of non-performing loans across all sectors was RMB 61.58 billion, with an overall NPL ratio of 0.95%[118] - The non-performing loan balance was RMB 61.58 billion, with a non-performing loan ratio of 0.95%, a decrease of 0.01 percentage points year-on-year[41] - The NPL amount for retail loans was RMB 30.59 billion, with a stable NPL ratio of 0.89%[117] - The real estate sector's NPL ratio was notably high at 5.26%, reflecting ongoing risks in this area[118] - The total amount of loans and advances increased by 7.5% from RMB 6,051,459 million in December 2022 to RMB 6,508,865 million in December 2023[120] - The total loans and advances amounted to RMB 6,508,865 million, with a non-performing loan (NPL) amount of RMB 61,579 million, resulting in an NPL ratio of 0.95%[120] - The small and micro loans reached RMB 751.30 billion, representing a growth of 19.06% compared to the previous year[117] - The manufacturing sector loans increased by 23.90% year-on-year, totaling RMB 577.03 billion, and accounted for 8.87% of total loans[119] Financial Performance - In 2023, the operating income of China Merchants Bank was RMB 339,078 million, a decrease of 1.64% compared to RMB 344,740 million in 2022[27] - The pre-tax profit increased by 6.97% to RMB 176,618 million from RMB 165,113 million in the previous year[27] - The net profit attributable to shareholders rose by 6.22% to RMB 146,602 million, compared to RMB 138,012 million in 2022[27] - The average return on equity (ROAE) for common shareholders remained above 16%, indicating strong shareholder value creation[12] - The average return on total assets (ROAA) was 1.39%, down 0.03 percentage points from the previous year[40] - The company achieved a net operating income of RMB 339.08 billion in 2023, a decrease of 1.64% year-on-year[40] - Non-interest net income totaled 124.41 billion RMB, down 1.66% year-on-year, with net fees and commissions declining by 10.19% to 92.83 billion RMB[68][71] Customer Base and Retail Services - The number of retail customers reached 197 million, with total assets under management (AUM) exceeding 13 trillion RMB[11] - Retail customer base reached 197 million, a year-on-year increase of 7.07%, with high-net-worth clients (assets over 500,000 yuan) growing by 12.00% to 4.64 million[14] - The number of wealth management clients increased by 19.13% to 51.38 million, reflecting a successful upgrade from payment services to wealth management[16] - Retail customer deposits reached 3.31 trillion yuan, marking a 12.13% increase from the previous year, with demand deposits accounting for 58.16% of the average daily balance[14] - The total assets under management for retail customers amounted to 13.32 trillion yuan, up 9.88% year-on-year, with high-net-worth clients' assets increasing by 9.66%[14] Technology and Innovation - The company has made significant technological investments, with user numbers for the upgraded app surpassing 200 million and over 17,000 full-time positions replaced by automation[22] - The number of users on the bank's app surpassed 200 million, with online financing rates exceeding 92%[136] - The new generation open operation service platform improved processing efficiency by 27%[189] - The low-code development system has released 5,646 applications, with business personnel accounting for over 53% of all developers[197] - Nearly 400 data sources have been introduced by the data platform, covering 60% of the bank's employees with big data services[197] Capital and Liabilities - The total liabilities amounted to RMB 9,942.75 billion, an increase of 8.25% from the previous year[46] - Customer deposits totaled RMB 8,155,438 million, up 8.22% from RMB 7,535,742 million in the previous year[27] - The company's capital adequacy ratio improved to 17.88%, an increase of 0.11 percentage points from the previous year[133] - The core Tier 1 capital adequacy ratio, Tier 1 capital adequacy ratio, and total capital adequacy ratio were 13.73%, 16.01%, and 17.88%, respectively, with increases of 0.05, 0.26, and 0.11 percentage points compared to the end of the previous year[163] Strategic Focus and Goals - The bank aims to strengthen its core competitiveness by focusing on retail finance, wealth management, and digitalization[26] - The company aims to optimize asset structure and increase loan disbursement to support the real economy[119] - The bank's strategy focuses on creating comprehensive value for customers, employees, shareholders, and society[141] - The bank aims to enhance risk management, cost management, and talent management to support high-quality development[142] - The company continues to innovate in retail and wholesale banking services, including digital financial solutions and wealth management products[128]