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<Results>ABC (01288.HK) Interim NP Elevates 2% to RMB135.892B; Div. RMB1.164 per 10 Shrs
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ABC (01288.HK) announced its interim results for the six months ended June this year, with revenue of RMB367.14 billion, up 0.4% YoY. Net profit elevated 2% YoY to RMB135.892 billion, with an EPS of 37 cents. A dividend of RMB1.164 per 10 shares was declared, compared to no dividend for the same period last year. Today (30 Aug), ABC's board of directors considered and approved the Dividend Payment Scheme of the First Tranche of the Preference Shares for the Year 2023-2024. The lender will pay cash dividends of RMB5.32 per preference share, calculated at a coupon rate of 5.32%, to all holders of the preference shares on 5 November. During the period, net interest income increased by 0.1% YoY to RMB290.848 billion, while net interest margin of 1.45% and net interest spread of 1.3% decreased by 21 and 19 points YoY respectively. Net fee and commission income fell by 7.9% to RMB46.736 billion. Other non-interest income rose by 19.9% to RMB29.556 billion. Credit impairment losses were RMB100.998 billion, a YoY decrease of RMB1.354 billion. Among them, loan impairment losses amounted to RMB98.632 billion, representing a YoY increase of RMB1.864 billion. As of the end of June, ABC's total assets amounted to RMB42 trillion, an increase of 5.3% from the end of last year, of which total loans and advances to customers amounted to RMB24.4 trillion, up 7.8% from the end of last year. Total liabilities amounted to RMB38.9 trillion, an increase of 5.3% from the end of last year, of which the balance of all-system customer deposits was RMB34.1 trillion. The non-performing loan ratio was 1.32%, a decrease of 0.01 ppt from the end of last year. The balance of non-performing loans was RMB320.429 billion, an increase of RMB19.669 billion from the end of last year. Overdue loan ratio of 1.07%, down 0.01 ppt from the end of last year. The allowance for non-performing loans was 303.94%, and the capital adequacy ratio was 18.45%. AAStocks Financial News |
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