On the evening of March 21, China CITIC Bank released its 2023 performance report

The report shows that in 2023, China CITIC Bank achieved operating income of 205.896 billion yuan, down 2.60% from the previous year, and realized net profit attributable to the Bank's shareholders of 67.016 billion yuan, an increase of 7.91% over the previous year.

According to the 2023 common share profit distribution plan disclosed in the annual report, China CITIC Bank plans to distribute cash dividends of 3.56 yuan (tax included) to all common shareholders for every 10 shares. The total dividend was RMB 17.432 billion (tax included), accounting for 28.01% of the net profit attributable to the bank's common shareholders after the 2023 merger, which is not much different from the previous year.

In terms of asset quality, in 2023, China CITIC Bank's non-performing loan balance and non-performing loan ratio all showed a downward trend, which is one of the biggest highlights of the annual report.

By the end of 2023, China CITIC Bank's non-performing loan balance was 64.80 billion yuan, down 0.63% from the end of the previous year; the non-performing loan ratio was 1.18%, down 0.09 percentage points from the end of the previous year; and the provision coverage rate was 207.59%, up 6.40 percentage points from the end of the previous year.

In terms of public loans, in 2023, China CITIC Bank Corporation's non-performing loan balance (excluding bill discounts) decreased by 6.45 billion yuan from the end of the previous year, and the non-performing loan ratio decreased by 0.35 percentage points from the end of the previous year; in the housing sector, the balance of real estate loans to public sector declined, and the real estate non-performing loan ratio was 2.59%, down 0.49 percentage points from the end of the previous year.

In terms of personal loans, in 2023, China CITIC Bank's personal non-performing loan balance increased by 5.934 billion yuan compared to the end of the previous year, and the non-performing loan ratio increased 0.18 percentage points from the end of the previous year. The balance of personal housing mortgage loans was $971,171 billion, an increase of $27.083 billion over the end of the previous year. The non-performing rate of personal housing loans was 0.50%, up 0.08 percentage points from the end of the previous year; the attention rate was 0.25%, down 0.03 percentage points from the end of the previous year.

Overall, China CITIC Bank's non-performing loan ratio has been declining for three consecutive years. Looking horizontally, among A-share listed banks, at the end of 2019, China CITIC Bank's non-performing loan ratio was still in the bottom one-third; by the third quarter of 2023, the bank's non-performing loan ratio had already been squeezed into the middle of the A-share “team”.

Fang Heying, chairman of China CITIC Bank, said in his annual report address that its potential in building a risk control system is gradually being transformed into effective results. China CITIC Bank's asset quality has substantially improved, making the leap from the risk “correction period” and “conditioning period” to the “health period”, further consolidating the foundation for high-quality development.