Jinwu Financial News | China Construction Bank (00939) announced that in 2023, net profit attributable to the bank's common shareholders recorded a record of 327.543 billion yuan (RMB, same below), an increase of 2.30% over the previous year. Basic profit per share was $1.31, with a final cash dividend of $0.4.

During the period, operating revenue was recorded at 745.615 billion yuan, a year-on-year decrease of 1.57%. Net interest income was recorded at $617.233 billion, down 4.11% year on year, accounting for 82.78% of operating income.

The Group's profit grew steadily, achieving pre-tax profit of 389.377 billion yuan, an increase of 1.48% over the previous year; net profit of 332,460 billion yuan, an increase of 2.34% over the previous year. The main influencing factors are as follows: (1) Due to factors such as continued concessions to the real economy and the overall decline in market interest rates, net interest income decreased by 26.436 billion yuan from the previous year, or 4.11%. (2) Due to factors such as changes in the market environment and fee reduction and concessions, net revenue from handling fees and commissions decreased by $339 million compared to the previous year, a decrease of 0.29%. (3) Continuously strengthen overall cost management, optimize the cost structure, and actively support new financial actions, customer account marketing and strategy implementation. Operating expenses increased 0.07% over the previous year, and the cost-revenue ratio was 28.39%, and continued to maintain a good level. (4) Asset loss provisions are mainly calculated based on factors such as scale growth, asset quality, macroeconomics, etc. The total impairment loss decreased by 11.47% compared to the previous year due to factors such as improvements in macroeconomic conditions compared to the previous year.

During the period, the bank achieved interest income of 1.25 trillion yuan, an increase of 76.793 billion yuan over the previous year, an increase of 6.56%. Among them, interest income from loans and advances, interest income from financial investment, interest income from central bank deposits, interest income from interbank deposits and divestment funds, and interest income from the purchase and resale of financial assets accounted for 70.38%, 22.33%, 3.66%, 2.06%, and 1.57%, respectively.

During the period, the bank's interest income on loans and advances was 887.917 billion yuan, up 3.78% year on year, mainly the average balance of loans and advances increased 13.46% from the previous year; interest income from financial investment was 278.524 billion yuan, up 8.70% year on year, mainly the average balance of financial investment increased 13.50% from the previous year; interest income from deposits with the central bank was 45.636 billion yuan, up 16.49% year on year. The average yield also increased 13 basis points from the previous year; Interest income from funds and divestment funds was $25.678 billion, up 80.61% year on year. Mainly, the average balance of interbank funds and divestment funds increased by 19.89% over the previous year, and the average yield also increased by 100 basis points over the previous year; interest income from the purchase and resale of financial assets was $19.611 billion, up 30.53% year on year. Mainly, the average balance of financial assets bought and resold increased by 14.39% over the previous year, and the average yield also increased 24 basis points from the previous year.