On March 28, China Everbright Bank (06818.HK) announced its 2023 annual results announcement. The Group achieved operating revenue of 145.735 billion yuan, a year-on-year decrease of 4.04%. In the fourth quarter, operating revenue fell 2.83% year on year, and the decline was significantly narrower than the previous three quarters. Among them, net income from interest was $107.480 billion, down 5.43% year on year; net income from handling fees and commissions was $23.698 billion, down 11.39% year on year. Net profit of 41,076 billion yuan was achieved, down 8.80% year on year. Mainly, the Group increased asset impairment losses by 2.96% year on year in order to consolidate the foundation of asset quality control and increase provision and increase planning efforts.
At the end of the reporting period, the Group's total assets were 67,72,796 billion yuan, an increase of 7.50% over the end of the previous year; the total principal amount of loans and advances was 37,86,954 billion yuan, an increase of 214.678 billion yuan over the end of the previous year, an increase of 6.01%. Among them, loans in the fields of inclusive finance, green, manufacturing, strategic emerging industries, technology-based enterprises, and private enterprises all achieved rapid growth; the deposit balance was 40,94.528 billion yuan, an increase of 4.53% over the end of the previous year.
At the end of the reporting period, the Group's non-performing loan balance was 47.476 billion yuan, up 2,802 billion yuan from the end of the previous year; the non-performing loan ratio was 1.25%, the same as the end of the previous year; the interest loan ratio was 1.84%, the same as the end of the previous year; the overdue loan ratio was 1.95%, down 0.01 percentage points from the end of the previous year; and the provision coverage rate was 181.27%, down 6.66 percentage points from the end of the previous year.
During the reporting period, the Group successfully achieved 16.9 billion yuan of convertible debt-to-equity swaps, successfully completed the issuance of 15 billion yuan of secondary capital bonds, and strongly consolidated its capital base. At the end of the reporting period, the Group's net capital was 651,382 billion yuan, an increase of 9.80% over the end of the previous year; the capital adequacy ratio was 13.50%, the Tier 1 capital adequacy ratio was 11.36%, and the core Tier 1 capital adequacy ratio was 9.18%, all in line with regulatory requirements.