On August 30, 2024, CEB Bank released its interim performance report.
The semi-annual report shows that the company achieved operating income of 69.866 billion yuan in the first half of the year, with a net profit of 24.61 billion yuan, a 1.61% increase compared to the same period last year.
In terms of segmented business income, during the reporting period, CEB Bank achieved net interest income of 48.111 billion yuan, a year-on-year decrease mainly due to the downward adjustment of the Loan Prime Rate (LPR). During the same period, the bank obtained fee and commission net income of 10.533 billion yuan, a decrease mainly attributed to a 1.855 billion yuan decrease in bank card service fee income compared to the same period last year (see the image below).
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In terms of asset size, the company overall achieved steady growth in total assets. At the end of the reporting period, its retail asset size reached 28.7 trillion yuan, a 5.42% increase from the end of the previous year; the scale of wealth management products reached 14.9 trillion yuan, a 13.74% increase from the end of the previous year; the comprehensive financing scale for corporate clients exceeded 5 trillion yuan, ranking fourth in the market in terms of bond underwriting volume.
Regarding asset quality, the group's non-performing loan balance at the end of the reporting period was 48.769 billion yuan, an increase of 1.293 billion yuan from the end of the previous year, with a non-performing loan ratio of 1.25%, remaining basically stable compared to the end of the previous year. Additionally, the provision coverage ratio was 172.45%, a decrease of 8.82% from the end of the previous year.
In terms of risk control, CEB Bank during the reporting period persisted in reducing risk assets as an important operational goal and a key risk management measure, focusing on &#34;reducing existing risks and controlling new risks.&#34; It promoted the implementation of a mandatory response mechanism for early warning, orderly pushing back on corporate early warning clients. It optimized the operation mechanism for special assets, increased efforts in clearing non-performing assets, revitalized special assets, and realized asset appreciation.
Regarding profit distribution, as of the disclosure date of the semi-annual report, the board of directors had not yet reviewed the profit distribution proposal for the reporting period or the proposal to increase capital reserves through capitalization. CEB Bank stated that, in compliance with relevant laws, regulations, and the company's articles of association, it plans to carry out the 2024 interim dividend in due course. The company will subsequently formulate specific interim dividend plans in accordance with the relevant provisions of the articles of association and implement them after completing the corporate governance procedures

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CEB Bank achieved a net profit of 24.61 billion yuan in the first half of 2024, a year-on-year increase of 1.61%. Operating income was 69.866 billion yuan, with a slight decrease in net interest income and fee and commission net income. Retail asset size and wealth management product management size increased by 5.42% and 13.74% respectively. The non-performing loan balance was 48.769 billion yuan, with a non-performing loan ratio maintained at 1.25%. The company plans to formulate a mid-term dividend plan for 2024, which is currently under review

- Industrial and Commercial Bank of China released its mid-year performance report on August 30, 2024. The report indicated operating income of 698.66 billion RMB and a net profit of 24.61 billion RMB for the first half of the year, showing a 1.61% increase from the same period last year. Despite a decrease in net interest income due to lowered loan market rates, the bank saw steady growth in total assets, with retail assets reaching 28.7 trillion RMB and wealth management assets growing by 13.74% year-on-year.
- The bank's non-performing loan balance slightly increased to 48.769 billion RMB, maintaining a non-performing loan ratio of 1.25%. With a profit distribution plan pending approval, Industrial and Commercial Bank of China aims to conduct mid-year dividends in compliance with regulations and governance procedures, focusing on risk management and asset optimization strategies.
- Emphasizing risk mitigation and asset value enhancement, the bank plans to implement specific mid-year dividend schemes following governance protocols.

Wallstreetcn

CEB Bank

CEB BANK

CEB Bank's net profit in the first half of the year exceeded 24.6 billion, a year-on-year increase of 1.6%, with the mid-term dividend plan under formulation