China Merchants Bank (600036.SH) issued 2023 annual results, with net profit of 146.602 billion yuan, an increase of 6.22% over the previous year. It plans to distribute 1.972 yuan per share

According to Zhitong Finance App, China Merchants Bank (600036.SH) released its 2023 annual report. During the reporting period, the company achieved operating income of 339.123 billion yuan, a year-on-year decrease of 1.64%; net profit attributable to the company's shareholders of 146.602 billion yuan, an increase of 6.22%; net profit attributable to the company's shareholders after deducting non-recurring profit and loss of 146.047 billion yuan, an increase of 6.18% over the previous year; and basic earnings per share attributable to the company's common shareholders.

The company plans to distribute cash dividends to all registered shareholders based on the total share capital of A shares and H shares on the date of registration of profit distribution. The cash dividend per share is 1.972 yuan (tax included), denominated and announced in RMB, paid to A-share shareholders in RMB, and to H share shareholders in Hong Kong dollars. The actual amount distributed in Hong Kong dollars is calculated based on the average benchmark exchange rate between RMB and HKD announced by the People's Bank of China one week before the shareholders' meeting (including the day of the shareholders' meeting).

During the reporting period, the Group achieved net interest income of 214.669 billion yuan, a year-on-year decrease of 1.63%; achieved net non-interest income of 124.454 billion yuan, a year-on-year decrease of 1.65%; the average return on total assets (ROAA) attributable to the company's shareholders and the average return on net assets (ROAE) attributable to the company's common shareholders were 1.39% and 16.22%, respectively, down 0.03 and 0.84 percentage points from the previous year.

As of the end of the reporting period, the Group's total assets were $110,28.483 billion, up 8.77% from the end of the previous year; total loans and advances were $65,0865 billion, up 7.56% from the end of the previous year; total liabilities were $99,42,754 billion, up 8.25% from the end of the previous year; and total customer deposits were $8155.438 billion, up 8.22% from the end of the previous year. By the end of the reporting period, the Group's non-performing loan balance was 61,579 billion yuan, up 3,575 billion yuan from the end of the previous year; the non-performing loan ratio was 0.95%, down 0.01 percentage points from the end of the previous year; the provision coverage rate was 437.70%, down 13.09 percentage points from the end of the previous year; and the loan provision ratio was 4.14%, down 0.18 percentage points from the end of the previous year.

As of the end of the reporting period, the total balance of the Group's real estate-related real estate-related actual and contingent credit, proprietary bond investments, and proprietary non-standard investments amounted to $398.967 billion, a decrease of 13.89% from the end of the previous year; the total balance of the Group's financial management funds, entrustment loans, consignment trusts actively managed by partner agencies, and underwriting debt financing instruments that did not bear credit risk amounted to $249.448 billion, down 16.95% from the end of the previous year.

As of the end of the reporting period, the company's real estate loan balance was 290.742 billion yuan, a decrease of 42,973 billion yuan from the end of the previous year, accounting for 4.71% of the company's total loans and advances, down 1.12 percentage points from the end of the previous year. As of the end of the reporting period, the company's real estate loan customers and regional structure remained good. Among them, the loan balance of customers with high credit ratings accounted for over 70%; looking at the project area, more than 85% of the company's real estate development loan balances were distributed in the urban areas of Tier 1 and 2 cities. By the end of the reporting period, the company's real estate non-performing loan ratio was 5.01%, up 1.02 percentage points from the end of the previous year.