As of March 4, 2024, 10 banks have disclosed their 2023 performance reports. The first banks to disclose the performance report are mainly urban commercial banks, a total of 7, and the remaining 3 are joint-stock banks.
Overall, the net profit attributable to the parent of the 10 listed banks all increased, of which 4 banks achieved double-digit growth in net profit attributable to the parent company. However, in terms of revenue, there were 4 banks whose revenue decreased year-on-year, of which Xiamen Bank had a relatively high decline.
In terms of assets, the total assets of the above 10 listed banks have increased, while the asset quality has remained good. As of the end of 2023, the non-performing loan ratio of four banks is less than 1%, and the non-performing loan ratio of Bank of Lanzhou and Huaxia Bank is relatively high. Although the provision coverage ratio of some banks has declined, it has generally remained at a high level.
Bank of Hangzhou's profits grew rapidly, while Bank of Xiamen's revenue fell sharply
According to the announcement data, in 2023, the revenue of China Merchants Bank and China CITIC Bank will both exceed 200 billion yuan, with 3391 respectively2.3 billion and 20589.6 billion yuan, Huaxia Bank achieved revenue of 9320.7 billion yuan. However, compared with the previous year, the revenue of the three joint-stock banks all decreased slightly.
Among the city commercial banks, Bank of Ningbo ranked first in terms of revenue scale, reaching 6158.4 billion yuan, followed by Bank of Hangzhou and Bank of Changsha, with revenue of 350 in 20231.6 billion and 2480.3 billion yuan.
Compared with the end of the previous year, the revenue growth rate of Changsha Bank and Qilu Bank among the city commercial banks was faster, with a year-on-year increase of more than 8%. Xiamen Bank's revenue fell relatively significantly, down 484%。
Figure 1: Revenue and net profit of listed banks that have released performance reports as of March 4.
The scale of net profit attributable to the parent company is similar to the scale of revenue, and among joint-stock banks, China Merchants Bank's net profit attributable to the parent company will rank first in 2023, reaching 14660.2 billion yuan, and China CITIC Bank was 6701.6 billion yuan, Huaxia Bank is 2636.3 billion yuan.
Among the city commercial banks, the top two net profit attributable to the parent company are Bank of Ningbo and Bank of Hangzhou, which will achieve a net profit of 255 in 20233.5 billion and 143$8.3 billion.
Compared with the same period last year, the net profit attributable to the parent of the 10 listed banks all increased, among which Bank of Hangzhou had the fastest growth rate, with a year-on-year increase of 2315%。Qilu Bank, Bank of Qingdao and Bank of Ningbo ranked second to fourth in terms of growth rate, with year-on-year growth respectively. 11% and 1066%。
The total assets of China Merchants Bank exceeded 11 trillion yuan, and the total assets of Qilu Bank grew rapidly
According to the announcement data, as of the end of 2023, the total assets of China Merchants Bank exceeded 11 trillion yuan, reaching 110285 billion yuan. The total assets of China CITIC Bank exceeded 9 trillion yuan, reaching 90,5284.5 billion yuan.
Among the city commercial banks, the total assets of Bank of Ningbo, Bank of Hangzhou and Bank of Changsha exceeded one trillion yuan, respectively 27,1165.6 billion yuan, 184134.2 billion yuan and 102003.3 billion yuan. The assets of Bank of Xiamen and Bank of Lanzhou are relatively small, neither of which has reached 500 billion yuan.
Figure 2: Total assets of listed banks that have disclosed their earnings as of the end of 2023.
Compared with the end of 2022, the growth rate of city commercial banks is generally higher, and the total assets of Qilu Bank have increased by 19 compared with the end of the previous year56%, ranking first in terms of growth rate. The growth rate of Bank of Qingdao and Bank of Ningbo was 148% and 146%, ranking second and third. In addition, the asset scale growth rate of Bank of Hangzhou and Bank of Changsha both exceeded 12%.
The NPL ratio of four banks was less than 1%, and the provision coverage ratio generally remained at a high level
According to the data, as of the end of 2023, the asset quality of the above 10 banks remained stable overall, the non-performing loan ratio generally declined, and the provision coverage ratio generally remained at a high level.
As of the end of 2023, four banks had non-performing loan ratios below 1%. Among them, Bank of Ningbo, Bank of Xiamen and Bank of Hangzhou have the lowest non-performing loan ratios, all of which are 076%。This is followed by China Merchants Bank, with a non-performing loan ratio of 095%。
The non-performing loan ratios of Bank of Lanzhou and Huaxia Bank are relatively high. As of the end of 2023, Bank of Lanzhou's non-performing loan ratio was 172%, and the non-performing loan ratio increased by 001 percentage point. Huaxia Bank's non-performing loan ratio is 167%。
Compared with the end of the previous year, the non-performing loan ratios of Xiamen Bank, China CITIC Bank and Huaxia Bank decreased relatively significantly. Among them, the Bank of Xiamen fell by 01 percentage point, China CITIC Bank and Huaxia Bank fell by 009 and 008 percentage points.
Figure 3: Non-performing loan ratios of listed banks that have disclosed their earnings as of the end of 2023.
Judging from the data disclosed so far, the provision coverage ratio of most listed banks is at a high level, and 6 out of 10 banks have a provision coverage ratio of more than 300%. Among them, Bank of Hangzhou, Bank of Ningbo, China Merchants Bank and Bank of Xiamen all have provision coverage ratios of more than 400%, respectively. 2%。
Figure 4: Provision coverage ratio of listed banks that have disclosed their performance reports as of the end of 2023.
Compared with the end of the previous year, the provision coverage ratio of Xiamen Bank and Qilu Bank increased rapidly, increasing by 24 respectively27 percentage points and 2252 percentage points. The provision coverage ratios of Bank of Ningbo, China Merchants Bank and Bank of Hangzhou declined, but all remained at a high level.
Reading Financial Reports] is a column jointly created by Xinhua Finance and Bread Finance with the interpretation of financial reports of listed companies as the main content. Xinhua Finance is a national financial information platform undertaken by Xinhua News Agency, which comprehensively covers the global financial markets, foreign exchange markets and bond markets, and provides authoritative, professional and comprehensive financial information services.
Disclaimer: This article is for informational purposes only and does not constitute any investment advice to anyone.
Copyright Notice: The copyright of this work belongs to Bread Finance, and it is not allowed to use this work in any other way without authorization.