According to the Zhitong Finance App, Dongguan Agricultural Commercial Bank (09889) announced its 2023 annual results. The group achieved operating income of 13.26 billion yuan (RMB, same below) during the period, an increase of 0.18% over the previous year; net profit attributable to the bank's shareholders was 5.161 billion yuan, a year-on-year decrease of 12.99%; and basic earnings per share were 0.75 yuan.
According to the announcement, the main reason for the decline in net profit is the slow growth of operating income due to factors such as market interest rates maintaining a downward trend and policy-guided finance continuing to benefit the real economy, while increasing the level of provision increases to enhance risk defense capabilities.
As of the end of the reporting period, the Group's total assets were 708.854 billion yuan, an increase of 51,164 billion yuan over the beginning of the year, an increase of 7.78%. The balance of various deposits was 487.095 billion yuan, an increase of 27.932 billion yuan over the beginning of the year, an increase of 6.08%. The balance of various loans was 355,073 billion yuan, an increase of 23.076 billion yuan over the beginning of the year, an increase of 6.95%. The scale of assets grew steadily, and efforts to serve the real economy continued to strengthen.
As of the end of the reporting period, the Group's non-performing loan ratio was 1.23%, and the provision coverage rate was 308.30%. The capital adequacy ratio and Tier 1 capital adequacy ratio were 15.85% and 13.65% respectively. The capital adequacy ratios at all levels were superior to regulatory standards, and the overall risk was stable and manageable.