The semi-annual report of listed banks disclosed that the net profit of the two companies increased by more than 20% year-on-year
Our reporter Lu Dong
On the evening of August 13, as China Merchants Bank and Bank of Ningbo simultaneously disclosed their first-half performance, the semi-annual report disclosure of A-share listed banks opened.
On the whole, China Merchants Bank and Bank of Ningbo achieved coordinated development of “scale, efficiency, and quality” in the first half of this year, and both delivered a satisfactory business answer.
The net profit of the two banks both increased by more than 20% year-on-year, and at the same time, asset quality continued to improve.
And its good performance has undoubtedly made a good start for the disclosure of semi-annual reports of listed banks.
The semi-annual report shows that in the first half of 2021, China Merchants Bank Group achieved operating income of 168.749 billion yuan, a year-on-year increase of 13.75%; realized net profit attributable to shareholders of the bank of 61.150 billion yuan, a year-on-year increase of 22.82%; Bank of Ningbo achieved operating income of 25.019 billion yuan in the first half of the year. Yuan, a year-on-year increase of 25.21%; net profit attributable to shareholders of the parent company was 9.519 billion yuan, a year-on-year increase of 21.37%.
The above two banks continued to promote the transformation of their business models in the first half of the year, and the steady development of various intermediary businesses has further strengthened the momentum of profit growth.
In the first half of the year, China Merchants Bank achieved non-interest net income of 69.408 billion yuan, an increase of 20.75% year-on-year, and accounted for 41.13% of operating income, an increase of 2.38 percentage points year-on-year; Bank of Ningbo achieved non-interest income of 9.036 billion yuan in the first half of the year, an increase of 31.53% year-on-year.
In the first half of this year, China Merchants Bank, which has the title of "Retail King", continued to expand its source of high-quality customers and achieved high-quality growth in retail customers.
As of the end of June, there were 165 million retail customers (including debit and credit card customers), and the total assets (AUM) of retail customers under management exceeded 10 trillion yuan, becoming the first stock to reach a new level of 10 trillion yuan. Row.
With the continuous improvement in the service of the real economy and the continuous increase in loan allocation, the asset scale of the two banks in the first half of this year has increased to varying degrees.
As of the end of June, the total assets of China Merchants Bank Group were 8885.886 billion yuan, an increase of 6.27% over the end of the previous year; the total assets of Bank of Ningbo were 1.833721 billion yuan, an increase of 12.72%.
While the performance is growing steadily, the asset quality of the two banks is also remarkable.
As of the end of the first half of the year, China Merchants Bank's non-performing loan ratio was 1.01%, a decrease of 0.06 percentage points from the end of the previous year; Ningbo Bank's non-performing loan ratio remained the same as at the end of the previous year, only 0.79%, which continued to remain at a low level.
"The bank's operations in the second quarter will continue the characteristics of the first quarter of'revenue differentiation, provisioning back-feeding, and profit acceleration'." Wang Yifeng, chief analyst of the financial industry of the Everbright Securities Research Institute, told the "Securities Daily" reporter that the economic recovery will help. Improving the quality of bank assets, the provision and write-off efforts are more normalized compared with the previous year, which will form a positive contribution to the bank's profit growth in the first half of the year.
At the same time, with the launch of the semi-annual report of listed banks, bank valuations are expected to be restored.
(Securities Daily)