Dividend and Annual Report - The proposed cash dividend is RMB 2.16 per 10 shares (including tax), subject to approval at the 2023 annual general meeting[1]. - The annual report was approved by the board on March 28, 2024, with 16 directors present, including 7 in person and 9 via video[2]. - The annual report will be published on both the Hong Kong Stock Exchange and the bank's official website[1]. Financial Performance - In 2023, Minsheng Bank achieved a net profit attributable to shareholders of 35.823 billion yuan, an increase of 1.57%[8]. - Operating revenue for 2023 was RMB 137,391 million, a decrease of 1.31% compared to RMB 139,219 million in 2022[26]. - Net interest income decreased by 4.68% to RMB 102,431 million from RMB 107,463 million in the previous year[26]. - Non-interest income increased by 10.09% to RMB 34,960 million, up from RMB 31,756 million in 2022[26]. - The average return on total assets was 0.48%, a decrease of 0.02 percentage points from 0.50% in 2022[26]. - The cost-to-income ratio increased to 37.00% from 36.44% in the previous year[26]. - The net interest margin decreased to 1.46% from 1.60% in 2022[26]. Asset and Equity Growth - As of the end of 2023, total equity attributable to shareholders reached 624.6 billion yuan, up 4.11%[8]. - Total assets amounted to 7.67 trillion yuan, reflecting a growth of 5.78%[8]. - Total loans and advances rose by 5.89% to RMB 4,384,877 million, with corporate loans increasing by 9.09% to RMB 2,617,355 million[27]. - The liquidity coverage ratio improved to 146.06%, up from 134.89% in the previous year, indicating strong liquidity management[29]. Risk Management - The bank has not identified any significant risks that adversely affect its future development strategy and operational goals[2]. - The bank aims to effectively manage various risks through proactive measures[2]. - The non-performing loan generation rate was 1.58%, a decrease of 0.43 percentage points year-on-year, marking three consecutive years of decline[10]. - The bank's non-performing loan ratio decreased to 1.48%, down by 0.20 percentage points from the previous year[14]. - The provision coverage ratio increased to 149.69%, up by 7.20 percentage points year-on-year[14]. Strategic Development - The annual report includes a section on future outlook, indicating plans for strategic development and risk management[4]. - The bank's strategic goal for 2021-2025 is to become a first-class commercial bank characterized by continuous innovation and stable operations, with a two-phase development plan[17]. - Minsheng Bank positions itself as a bank for private enterprises, emphasizing support for small and medium-sized enterprises (SMEs) and enhancing its service quality in this sector[18]. - The bank plans to leverage digital transformation to create an agile and open banking environment, enhancing customer experience through integrated services[18]. Digital Transformation and Technology - Commitment to digital transformation and building a "smart bank" with innovative products[14]. - The bank's digital transformation efforts are aimed at enhancing customer service and operational efficiency through innovative financial technology solutions[35]. - The bank launched new services such as "Xin Guan+" for fund sales supervision and "Cross-border+" for global custody, enhancing market influence[157]. - The bank's digital transformation strategy includes a three-year technology plan and a data strategy aimed at becoming a data-driven bank[162]. Community and Social Responsibility - Minsheng Bank has donated over 200 million yuan to support poverty alleviation efforts in Henan Province over the past 22 years[10]. - The bank's MSCI ESG rating improved by two levels to "AA," reflecting recognition of its sustainable development efforts[10]. - Focus on enhancing technology finance, green finance, and inclusive finance to support sustainable development[14]. Customer Engagement and Services - The number of pension accounts exceeded 1.7 million, indicating strong growth in retirement finance services[8]. - The bank's strategy includes a focus on emerging industries such as green energy and advanced manufacturing, aiming to create a new model of "industry - technology - finance"[19]. - The bank emphasizes a customer-centric approach, aiming to improve customer satisfaction through integrated and one-stop services[19]. Compliance and Regulatory Adherence - Emphasis on compliance and risk management to ensure stable operation and adherence to regulatory requirements[15]. - The bank has established a comprehensive legal risk management system to ensure compliance with laws and regulations[198]. - The company has improved its compliance management framework, enhancing internal control and compliance quality[199].
民生银行(01988) - 2023 - 年度业绩