As of the evening of March 29, the 2023 annual performance reports of 10 A-share listed joint-stock banks have all been released. According to the statistics of the 2023 annual performance report disclosed by 10 joint-stock banks, in 2023, the total assets of 10 joint-stock banks will reach 68.41 trillion yuan, the operating income will reach 1,562.035 billion yuan, and the net profit attributable to the parent company will be 496.998 billion yuan, of which the net profit of 7 joint-stock banks will show positive growth.
Only 1 joint-stock bank had a positive year-on-year increase in revenue
In 2023, except for Zheshang Bank, the revenue of 9 A-share listed joint-stock banks will be generally under pressure.
Specifically, China Merchants Bank led the way with an operating income of 339.123 billion yuan, followed by Industrial Bank and China CITIC Bank, with operating income of 210.831 billion yuan and 205.896 billion yuan respectively, and Bohai Bank ranked last with 24.997 billion yuan.
From the perspective of year-on-year revenue growth and decline, Zheshang Bank is the only bank among the 10 joint-stock banks that has shown positive growth. Among the other nine joint-stock banks, Ping An Bank saw the largest decline, down 8.40% year-on-year, followed by Shanghai Pudong Development Bank, down 8.05% year-on-year, and Industrial Bank and Bohai Bank's revenue fell by more than 5% year-on-year, -5.19% and -5.50% respectively. In addition, the remaining joint-stock banks have declined to varying degrees.
In addition, it is worth mentioning that after 2009, the company's revenue declined again after 14 years after a year-on-year decline of 2.11% in 2009. According to the data, China CITIC Bank will achieve 205.896 billion yuan in 2023, a year-on-year decrease of 2.6%.
The year-on-year growth rate of net profit attributable to the parent company of Industrial Industry and Zhejiang Merchants ranked the top two
In terms of the year-on-year increase and decrease in net profit attributable to the parent company, Industrial Bank and Zheshang Bank ranked the top two in terms of year-on-year growth in net profit attributable to the parent company, both exceeding 10%, achieving net profit attributable to the parent company of 77.116 billion yuan and 15.048 billion yuan respectively, a year-on-year increase of 15.61% and 10.50%, while the net profit attributable to the parent company of Shanghai Pudong Development Bank, China Everbright Bank and Bohai Bank decreased year-on-year. Among them, Shanghai Pudong Development Bank fell by 27.53% year-on-year, and its net profit attributable to the parent company was 36.702 billion yuan. Among the remaining two, Bohai Bank decreased by 16.81% year-on-year, achieving a net profit attributable to the parent company of 5.081 billion yuan, while China Everbright Bank achieved a net profit attributable to the parent company of 40.792 billion yuan, a year-on-year decrease of 8.96%. It is worth noting that the revenue and net profit of these three banks in 2023 will both "decline".
In addition, in terms of the absolute amount of net profit attributable to the parent company, China Merchants Bank achieved 146.602 billion yuan, ranking first, Industrial Bank and China CITIC Bank ranked second and third, and the bottom three were Bohai Bank, Zheshang Bank and Huaxia Bank.
The scale of CITIC assets surpassed that of SPD to become the third largest joint-stock bank
At the time of the release of the report for the third quarter of 2023, China CITIC Bank's asset scale has surpassed Shanghai Pudong Development Bank to become the third largest joint-stock bank, and the asset scale of joint-stock banks has changed. In 2023, the total assets of the 10 joint-stock banks will be 68,314.157 billion yuan, an increase of 7.37% over the previous year.
Among them, according to the statistics of the 2023 annual performance reports of various banks, at present, the top three joint-stock banks in terms of asset scale are: China Merchants Bank, Industrial Bank and China CITIC Bank, with total assets of 11,028.483 billion yuan, 10,158.326 billion yuan and 9,052.845 billion yuan in 2023, an increase of 8.77%, 9.63% and 5.91% respectively. The total assets of Shanghai Pudong Development Bank reached 9,007.247 billion yuan last year, an increase of 3.48%, second only to China CITIC Bank, ranking fourth.
In terms of asset growth rate, Zheshang Bank ranked first, with an increase of 19.91% to 3,143.879 billion yuan, except for Shanghai Pudong Development Bank and Bohai Bank, the growth rate of the remaining eight banks was greater than or equal to 5%.
More than half of the banks saw their NPL balances rise
In FY2023, 10 listed joint-stock banks announced their non-performing loan ratios. Among them, 1 increased, 1 remained flat, and the remaining 8 all declined.
Specifically, the non-performing loan ratio of Bohai Bank increased by 0.02 percentage points to 1.78 percent, while the non-performing loan ratio of China Everbright Bank was 1.25 percent, unchanged from last year.
According to the data, among the 10 joint-stock banks, the highest non-performing loan ratio is 1.78% of Bohai Bank, and the lowest is 0.95% of China Merchants Bank.
In addition, the non-performing loan ratios of China CITIC Bank, Huaxia Bank, Shanghai Pudong Development Bank, Zheshang Bank, Industrial Bank, Ping An Bank, China Merchants Bank and Minsheng Bank were 1.18%, 1.67%, 1.48%, 1.44%, 1.07%, 1.06%, 0.95% and 1.48% respectively, down 0.09 percentage points, 0.08 percentage points, 0.04 percentage points, 0.03 percentage points, 0.02 percentage points, 0.02 percentage points and 0.02 percentage points respectively from the end of the previous year. 0.01 percentage points and 0.2 percentage points.
In terms of non-performing loan balances, more than half of the nine joint-stock banks (Huaxia Bank has not published a full annual report) have increased their non-performing loan balances. Among them, Zheshang Bank rose the most, with a year-on-year increase of 10.03% in the balance of non-performing loans, followed by Industrial Bank and Everbright Bank, with a year-on-year increase of 7.35% and 6.27% respectively, and the largest decline in the balance of non-performing loans in 2023 was Minsheng Bank, with a decrease of 6.18%; in terms of specific amounts, the largest balance of non-performing loans was Pudong Development Bank, with 74.198 billion yuan, a year-on-year decrease of 0.56%. China CITIC Bank followed closely behind, with 65.097 billion yuan and 64.8 billion yuan respectively, down 6.18% and 0.64% year-on-year, respectively.
The net interest margin of the eight major joint-stock banks has narrowed
In 2023, with the decline of market interest rates, the strength of continuous concessions to the real economy will continue to increase, and according to the annual report, the net interest margin of the eight major joint-stock banks has decreased. (Due to incomplete disclosure in the annual report, this subsection does not include SPD Bank and Huaxia Bank.) ）
Specifically, Ping An Bank's net interest margin was 2.38%, the highest among the eight joint-stock banks, down 0.37 percentage points from last year, and Bohai Bank had the lowest net interest margin of 1.14%, down 0.36 percentage points year-on-year. It is worth mentioning that these two banks also have the highest net interest margin changes among the eight banks. In addition, the remaining banks have concentrated in the range of 0.1-0.3 percentage points in net interest margins.
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Five of the seven joint-stock banks paid more than 10 billion yuan in dividends last year
The reporter of Nandu Bay Finance Society counted the dividends of 7 of the listed joint-stock banks. According to the data, the total dividend amount of 7 banks was 126.907 billion yuan, a year-on-year increase of 10.15%.
China Merchants Bank paid dividends of nearly 50 billion yuan
Specifically, the total dividend of China Merchants Bank reached 49.734 billion yuan, which was about 28 billion yuan higher than that of Industrial Bank, which ranked second, and ranked firmly in the "champion" position in terms of total dividends, and its dividend amount per 10 shares also reached 19.72 yuan.
Miao Jianmin, chairman of China Merchants Bank, said at the 2023 annual results conference, "China Merchants Bank is a bank with a low valuation and high dividends. Most of our shareholders didn't make much or no money on capital gains last year, so a little bit of a dividend increase can improve the overall return to shareholders. ”
In addition to China Merchants Bank, the remaining six banks with total dividends of more than 10 billion yuan also include Industrial Bank, China CITIC Bank, Ping An Bank and Everbright Bank, whose total dividends also reached 21.605 billion yuan, 17.432 billion yuan, 13.853 billion yuan and 10.222 billion yuan respectively, and their dividends per 10 shares also reached 10.4 yuan, 3.56 yuan, 7.19 yuan and 1.73 yuan.
Minsheng Bank and Zheshang Bank have total dividends of less than 10 billion yuan. The two banks will pay dividends of 9.457 billion yuan and 4.504 billion yuan respectively in 2023, and their dividend amounts per 10 shares will be 2.16 yuan and 1.64 yuan respectively.
Industrial Bank's dividend fell by 12.46%
Among the above 7 banks, 5 banks have increased their total dividends compared to 2022. Among them, the amount of dividends paid by Ping An Bank increased significantly from 5.531 billion yuan in 2022 to 13.953 billion yuan in 2023, and the amount of dividends per 10 shares increased from 2.85 yuan to 7.19 yuan. In this regard, Ji Guangheng, Secretary of the Party Committee and President of Ping An Bank, said that the capital adequacy ratio of Ping An Bank improved last year, so the dividend ratio was increased to 30% this time.
The total dividends of China Everbright Bank and Industrial Bank decreased compared with the previous year. Among them, the total amount of dividends paid by China Everbright Bank decreased by 8.94% compared with 2022, the cash dividends of Industrial Bank decreased by 12.46% from RMB24.680 billion in 2022 to RMB21.605 billion in 2023, and the amount of dividends per 10 shares also decreased from RMB11.88 in 2022 to RMB10.40.
In this regard, Chen Xinjian, President of Industrial Bank, said, "A stable dividend rate certainly depends on the revenue theory. From the current point of view, the negative factors of the external business environment still exist, including the continuous reduction of the LPR to compress the bank's profit margin, etc., despite facing many challenges, IB is still confident that it can maintain the stability of its operation, ensure that the dividend rate remains at a relatively high level, and provide investors with more stable returns. ”
Written by: Nandu Bay Finance Reporter Liu Changyuan, Ma Qing, Intern Liu Zhixian