14 banks made a net profit of 926.484 billion yuan in the first half of the year, and announced their first mid-term dividend plan
2024-09-05
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in the first half of this year, 14 major listed banks achieved a total net profit attributable to the parent company (hereinafter referred to as "net profit attributable to the parent company") of 926.484 billion yuan, and operating income exceeded 2.5 trillion yuan. among them, 10 banks announced mid-term dividend plans, accounting for 70%, which is also the first time that listed banks have made mid-term dividends. red star news reporters recently learned that various listed banks have successively announced their 2024 semi-annual reports, and some banks have also held mid-term performance briefings.
big six
revenue in the first half of the year was approximately 1.8 trillion yuan
the most obvious change in the semi-annual reports of various banks is that the operating income and net profit attributable to the parent company are under overall pressure. red star news reporters focused on the six major state-owned banks as the main force. from january to june 2024, the six major state-owned banks achieved a cumulative operating income of about 1.80 trillion yuan, a decrease of about 50 billion yuan compared with 2023. except for the agricultural bank of china, the other five banks have declined to varying degrees, among which the industrial and commercial bank of china has the largest decline. in the first half of this year, icbc achieved operating income of 420.499 billion yuan, a year-on-year decrease of about 6%. next are china construction bank and bank of communications, with revenues down 3.57% and 3.51% year-on-year, respectively.
like revenue, net profit also showed an overall downward trend. except for the agricultural bank of china, the net profits of the other five state-owned banks in the first half of this year have all declined. the industrial and commercial bank of china achieved a net profit of 170.467 billion yuan attributable to its parent company in the first half of the year, a year-on-year decrease of about 1.90%; the net profits attributable to its parent company of the construction bank, bank of communications, postal savings bank of china and bank of china decreased by 1.80%, 1.63%, 1.51% and 1.24% respectively.
zeng gang, director of the shanghai finance and development laboratory, suggested that for the industry as a whole, banks need to strengthen risk management and disposal, and on the basis of stability, further reduce liability costs, adjust asset structure, and maximize returns. at the same time, it is possible to consider appropriately giving up the pursuit of scale expansion, controlling a reasonable development speed, and seeking high-quality development. zeng gang said that in principle, this is a normal situation in the process of economic adjustment and transformation, and it is also within the controllable range. in the long run, as the real economy gradually adjusts and recovers in the future, the interest rate spread, profit and scale expansion space of the banking industry will also recover accordingly.
joint-stock bank
both banks saw revenue and profits increase
similar to the six state-owned banks, the performance of the eight major national joint-stock banks counted by red star news reporters is not ideal. the semi-annual report shows that from january to june 2024, the eight joint-stock banks achieved a cumulative operating income of about 745.6 billion yuan. except for citic, huaxia and xingye, the other five banks have declined to varying degrees. among them, ping an bank had the largest decline, reaching 13%; followed by china everbright bank and china minsheng bank, with declines of 8.77% and 6.17% respectively.
in terms of net profit, the eight joint-stock banks had a total net profit attributable to their parent companies of 243.096 billion yuan, and three of them saw a year-on-year decline. the largest decline was in minsheng bank, with a year-on-year decline of 5.48% in the first half of the year, citic bank's year-on-year decline of 1.60%, and china merchants bank's year-on-year decline of 1.33%. red star news reporters found that among these eight joint-stock banks, only hua xia bank and industrial bank saw an increase in both revenue and profit.
many banks mentioned in their semi-annual reports that due to multiple factors such as the reduction in the loan market benchmark rate (lpr), adjustments to existing mortgage interest rates, and changes in the deposit term structure, the banks' net interest income and intermediary business income have dragged down the growth of operating income and net profit. under the combined influence of weak effective market demand and "water squeeze" in supply, the credit growth rate in all sectors has declined.
banking experts believe that the continued narrowing of net interest margins has squeezed banks' profit margins to a certain extent. at the same time, the possible reduction in the interest rate of existing mortgage loans in the near future will further challenge banks' interest margins and increase operating pressure. in the future, commercial banks need to actively explore new profit models to enhance their competitiveness, optimize and adjust their asset-liability structure, and appropriately give up the pursuit of scale expansion and seek high-quality development.
highlights
10 banks' mid-term dividends exceeded 200 billion yuan
the 2024 semi-annual report shows that among the 14 listed banks, only 4 had a non-performing loan ratio that increased by 0.01 percentage points from the beginning of the year, while the remaining 10 remained the same or decreased. all banks strictly controlled non-performing loans, and the overall asset quality remained relatively stable. red star news reporters learned that among the 14 banks, hua xia bank had the highest non-performing loan ratio, at 1.65%, while the lowest was postal savings bank, at 0.84%.
unlike previous years, the biggest highlight of this year's annual reports of listed banks is that most banks disclosed their mid-term dividend plans for the first time. red star news reporters learned that based on the information that has been publicly disclosed, the mid-term dividends of 10 banks are expected to exceed 220 billion yuan, of which the six major state-owned banks will exceed 200 billion yuan, with the industrial and commercial bank of china having the highest total amount exceeding 50 billion yuan, and hua xia bank having the lowest total amount reaching 1.6 billion yuan. according to the proposed dividend plans currently disclosed by the above-mentioned banks, ping an bank has the highest dividend of 2.46 yuan (including tax) for every 10 shares, followed by china construction bank with a dividend of 1.97 yuan (including tax) for every 10 shares and china citic bank with a dividend of 1.847 yuan (including tax) for every 10 shares.
red star news reporter yang bin
editor: li xinglong
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