Industrial and Commercial Bank (601398.SH) reported first-half results, net profit of 17.467 billion yuan to mother, provision coverage rate of 218.43%

According to the Zhitong Finance App, Industrial and Commercial Bank (601398.SH) released its 2024 semi-annual report. During the reporting period, the company achieved operating income of 420.499 billion yuan; net profit attributable to shareholders of listed companies of 170.467 billion yuan; net profit attributable to shareholders of listed companies deducted 169.215 billion yuan for non-recurring profit and loss; and basic earnings per share of 0.47 yuan/share.

In the first half of the year, the Group's various business sectors made concerted efforts, and the dynamic balance of assets, capital and capital, and the “strong, superior” core index remained stable, showing strong management resilience. It achieved operating income of 420.499 billion yuan, net profit of 171,296 billion yuan, and annualized average return on total assets (ROA) and annualized weighted average return on net assets (ROE) of 0.75% and 9.53%, respectively. For the first time, the plan was to implement an interim cash dividend of 51.09 billion yuan, with a dividend ratio of 30.0%. The first domestic TLAC non-capital bond was issued, with a capital adequacy ratio of 19.16%; the non-performing loan ratio was 1.35%, down 0.01 percentage points from the beginning of the year; the provision coverage rate was 218.43%, up 4.46 percentage points. The full-caliber provision balance was 954.237 billion yuan, further enhancing risk resilience.

RMB loans from domestic branches increased by 1.74 trillion yuan, an increase of 7.1%; investment in RMB bonds increased by 1.09 trillion yuan, and domestic underwriting bonds of 769.533 billion yuan, all maintaining market leadership. Firmly improve the “Five Major Articles” of finance and strengthen high-quality financial services in major strategies, key areas, and weak links. Loans to the manufacturing industry increased by 13.0%, loans to strategic emerging industries increased by 14.7%, green loans increased by 13.7%, and inclusive loans increased by 21.5%, all higher than the average growth rate of various loans.