On March 28, GLONGHUI | Postbank (01658.HK) announced that for the year ended December 31, 2023, during the reporting period, the Bank achieved net profit attributable to bank shareholders of 86.270 billion yuan (RMB, same below), an increase of 1.23% over the previous year. It achieved operating income of 342,912 billion yuan, an increase of 2.24%; of which net interest income was 281.803 billion yuan, an increase of 3.00%; after excluding the one-time factor of the transformation of net wealth management products in the previous year, net income from handling fees and commissions increased 12.05% year on year. Net interest spread of 2.01%, continuing to maintain the industry's superior level. It is proposed to distribute cash dividends of RMB 2.61 (tax included) for every 10 shares to all common shareholders, totaling RMB 25.881 billion (tax included). In 2023, the Bank will not implement a capital increase from the Capital Provident Fund.
By the end of the reporting period, the Bank's total assets reached 15.73 trillion yuan, up 11.80% from the end of the previous year; of these, total customer loans were 8.15 trillion yuan, up 13.02% from the end of the previous year, an increase of 182.126 billion yuan over the previous year, and the increase reached a record annual high. Total debt reached 14.77 trillion yuan, an increase of 11.54% over the end of the previous year; of these, customer deposits were 13.96 trillion yuan, an increase of 9.76% over the end of the previous year, and core liabilities maintained steady and healthy development. The deposit-to-loan ratio was 58.39%, up 1.68 percentage points from the end of the previous year, and the asset structure continued to be optimized.
As of the end of the reporting period, the Bank's non-performing loan ratio was 0.83%, down 0.01 percentage points from the end of the previous year. It is still at the leading level in the industry; the provision coverage rate is 347.57%, and the risk compensation capacity is sufficient.