PSBC's semi-annual report reveals its "bottom line", with revenue of 176.8 billion, profit of 48.9 billion, and net interest margin maintaining a relatively favorable level in the industry
The semi-annual report released by PSBC shows that the operating income in the first half of 2023 was approximately 176.8 billion, with a net profit of around 48.9 billion. The net interest margin is 1.91%, maintaining a good level within the industry. The non-performing loan ratio is 0.84%, with a provision coverage ratio of 325.61%. The bank plans to implement a mid-term dividend plan in 2024, with total dividends not exceeding 30% of net profit
On the evening of August 30th, Postal Savings Bank of China announced its semi-annual report, which is also the last of the six major state-owned banks to release its semi-annual report.
The semi-annual report revealed the "refinement" and "stability" of Postal Savings Bank of China. During the reporting period, the bank achieved operating income of 176.789 billion yuan, almost flat year-on-year; and achieved a net profit of 48.885 billion yuan, a slight decrease of 1.52% year-on-year. For Postal Savings Bank of China with nearly 40,000 branches, such performance is quite commendable.
Specifically, in the first half of the year, Postal Savings Bank of China achieved net interest income of 142.876 billion yuan, a year-on-year increase of 1.83%; with a net interest margin of 1.91%, maintaining a relatively superior level in the industry.
Other non-interest net income was 18.752 billion yuan, a year-on-year increase of 1.54%, contributing to stable non-interest income.
As of the end of the reporting period, the bank's total assets exceeded 16 trillion yuan, reaching 16.41 trillion yuan, an increase of 4.37% from the end of the previous year; of which total customer loans amounted to 8.66 trillion yuan, an increase of 6.26% from the end of the previous year. Total liabilities reached 15.41 trillion yuan, an increase of 4.31% from the end of the previous year; with customer deposits amounting to 14.87 trillion yuan, an increase of 6.51% from the end of the previous year.
As of the end of the reporting period, Postal Savings Bank of China's non-performing loan ratio was 0.84%, with a provision coverage ratio of 325.61%, maintaining a relatively superior level in the industry.
In terms of distribution, Postal Savings Bank of China plans to implement mid-year dividend distribution for the year 2024, with the total amount of mid-year dividends not exceeding 30% of the net profit attributable to bank shareholders in the first half of 2024 according to the consolidated financial statements. The specific mid-year profit distribution plan for 2024 will be implemented after the completion of corporate governance procedures, and the specific content and review situation will be subject to the announcement at that time