As of August 31, the semi-annual reports of six state-owned banks have been disclosed. According to statistics from the Beijing News Beike Finance reporter, the total operating income of the six major state-owned banks reached 1.94 trillion yuan in the first half of this year; the total net profit attributable to shareholders reached 673.171 billion yuan. Based on the 181 days of the first half of the year, the six major banks made an average daily profit of 3.719 billion yuan.
"This report card is hard-won." As Liao Lin, president of ICBC , said at the industry performance press conference, in the first half of this year, the banking industry faced economic downward pressure and multiple outbreaks of the epidemic, and bank performance has maintained relatively steady development.
In the first half of this year, large state-owned banks played the role of "leaders" and increased their efforts to benefit the real economy. The increase in credit supply by many large banks reached new highs. But at the same time, the pressure to narrow the net interest margin of still exists, and stabilization and provision reduction are still continuing. Looking ahead to the whole year of this year, can large state-owned banks continue to maintain steady development?
Picture/ic
Contribute to the real economy. The increase in credit supply of many major banks hit a new high.
In the first half of this year, the six major banks generally increased their credit supply and continuously optimized the credit structure to serve the real economy. The loan growth of three banks, including Postal Savings Bank , Industrial and Commercial Bank of China , Bank of China , and Bank of China , and the loan growth of Agricultural Bank of China and its balance have both hit 10 years highs.
data shows that ICBC's domestic RMB loans increased by 1.61 trillion yuan in the first half of the year. The growth of various loans of Postal Savings Bank of China in the first half of the year increased by more than 530 billion yuan compared with the end of the previous year, an increase of 60.823 billion yuan year-on-year.
Liu Jianjun, President of Postal Savings Bank of China, introduced at the performance press conference that in the loan increase in the first half of this year, Postal Savings Bank's physical loans accounted for 86% of all new loans, which means that most of Postal Savings Bank's credit assets are invested in the real economy.
The credit structure of the six major banks has also changed. Advanced manufacturing , Green finance , inclusive finance and other fields have become key areas for state-owned banks' credit issuance.
ICBC data shows that the investment in manufacturing loans increased by 628.1 billion yuan, an increase of 3.5 times that of the same period last year. The investment in manufacturing medium- and long-term loans and credit loan balances both exceeded 1 trillion yuan for the first time.
Bank of China's transportation, warehousing and postal industry loans and manufacturing industry loans all achieved year-on-year growth ; China Construction Bank also increased credit investment in inclusive finance, advanced manufacturing, strategic emerging industries, green finance and other fields; Bank of Communications invested in manufacturing, strategic emerging industries, green credit , " specialized and special " small and medium-sized enterprise loans, agricultural-related loan growth, etc., and achieved even growth.
Looking ahead to the second half of the year, executives of many state-owned banks said that they will continue to increase their credit supply at present, and benefiting from the positive economic development, credit demand is expected to recover in the future.
"The overall credit data fluctuated in July, which does not necessarily represent a trend." Gu Shu, chairman of Agricultural Bank of China , said that the decline in credit data in July was mainly affected by weak expectations in the real estate market. From a long-term perspective, my country's economy is still in the process of transformation of growth mode, and the transformation of new and old kinetic energy cannot be smooth.
Gu Shu pointed out that the credit supply volume in July and August exceeded the same period last year, and it is expected that the year-on-year increase in credit will continue from September to December.
. Several banks have lowered the provision coverage ratio of
. According to the semi-annual report, five banks including ICBC, CCB , Agricultural Bank of China, Bank of China , Postal Savings and 5 banks have lowered the provision coverage ratio in the second quarter. Among them, Postal Savings Bank of China lowered 4.33 percentage points month-on-month to 409.25% compared with the first quarter, becoming the bank with the largest reduction, but its provision coverage ratio is still the highest. The provision coverage ratio of Bank of China was lowered by 4.28 percentage points month-on-month to 183.26%. The provision coverage ratios of ICBC, CCB and Agricultural Bank of China decreased by 2.88, 2.14 and 2.6 percentage points respectively compared with the first quarter. Bank of Communications alone rose 6.44 percentage points month-on-month to 173.1%, but its provision coverage ratio is still the lowest among the six major banks.
"In the future, the provision coverage ratio of the Agricultural Bank of China will continue to decline."Agricultural Bank Chairman Gu Shu said that in the future, the Agricultural Bank of China will withdraw new provisions in accordance with the requirements of accounting standards and regulatory requirements. At the same time, the bank will also reasonably release existing provisions according to the requirements and needs of countercyclical management, so as to support the development of the real economy, while also keeping investors' returns at a relatively stable level.
On April 13 this year, the State Council Executive Meeting proposed to encourage large banks with higher provision levels to orderly reduce the provision coverage rate, and timely use monetary policy tools such as reduction and promote banks to enhance their credit supply capabilities.
Some industry analysts believe that the intention is to allow banks to have more funds to support the development of the real economy, rather than to release higher profit growth rates. Therefore, in addition to reducing the provisions of provisions, ht In addition to liberation of more funds, it will increase the tolerance of non-performing loans, that is, increasing the denominator of the provision coverage ratio can also achieve the purpose of reducing the provision bank provision coverage ratio.
The real estate risks of six major banks are controllable
At this year's mid-term performance conference, the risk of bank housing was one of the most concerned topics in the market. All the six major banks said that the risk is generally controllable, and the scale of mortgage non-performing loans involving suspension projects is relatively small.
Bank's risk director Liu Jiandong said that in the first half of this year, the non-performing rate of banks to public real estate rose by 0.6 percentage points from the beginning of the year, basically remaining at the peer level. According to the investigation, it is judged that the exposure of dangerous customers is relatively low, and the overall risk is controllable.
China Construction Bank Chief Risk Officer Cheng Yuanguo also said that the bank's real estate industry asset quality overall risk is controllable, and it still maintains the best level among comparable peers, and has sufficient provisions.
Regarding the future development of the real estate market, Liu Jiandong said that the Bank of China will continue to implement the basic policy of "housing for living, not speculation", support the reasonable financing needs of real estate companies and home buyers, arrange real estate loans in an orderly manner, safeguard the legitimate rights and interests of housing consumers, give priority to supporting affordable rental housing ordinary residential development projects, continuously optimize the structure of real estate loans, and promote the healthy development and benign circulation of the real estate industry.
In addition, according to data, the asset quality of the six major banks remained stable in the first half of the year, and the risk compensation ability was enhanced, and the non-performing loan ratio has not fluctuated significantly.
According to statistics from Beike Finance reporters, among the six state-owned banks, the non-performing loan ratios of Bank of China and Postal Savings Bank of China have increased slightly by 0.01 percentage points, 1.34% and 0.83% respectively. The non-performing loan ratios of the other four banks have decreased, with the CCB, Agricultural Bank of China, and Bank of Communications all decreased by 0.02 percentage points, with the non-performing loan ratios of 1.4%, 1.41% and 1.46% respectively; while the Agricultural Bank of China The bank fell by 0.01 percentage points to 1.41%.
Deputy Governor of Industrial and Commercial Bank of China Wang Jingwu said that in the next stage, ICBC will continue to strengthen forward-looking prevention and control and active management of various risks, take multi-pronged approach and comprehensive measures, and make every effort to maintain the stable and controllable asset quality with high-quality risk control, and be confident that ICBC's asset quality will be stable and stable.
net interest margin continues to narrow.
"In the first half of 2022, the complexity, severity and uncertainty of the domestic and international economic environment increased, the banking industry's operation and development faced challenges, and the industry's net interest margin was on a downward channel as a whole. "The Postal Savings Bank of China clearly stated in the semi-annual report.
In the first half of this year, except for the Bank of China's net interest rate remaining at 1.76%, which is consistent with the beginning of the year, the net interest rate of the other five state-owned banks all declined.
In the first half of this year, the net interest rate of ICBC, Agricultural Bank of China, CCB, Bank of Communications and Postal Savings Bank of China fell by 9bp, 10bp, 4bp, 2bp and 10bp respectively, and the net interest rate of 2 respectively .03%, 2.02%, 2.09%, 1.53% and 2.27%.
Bank concessions to the real economy are one of the factors that lead to the decline in net interest yield. In the first half of the year, the annualized interest rate of newly issued loans of Agricultural Bank of China was 3.95%, down 15 bp from the previous year. In addition, the yield rate of loans of CCB also decreased.
At the same time, reducing the liability cost is an important measure for banks to maintain relatively stable net interest margins.
Agricultural Bank of China said that the results of self-discipline and mechanism reform of deposit interest rates in June last year and the market-oriented adjustment mechanism of deposits in April this year will continue to appear. In addition, the bank's active optimization of cost control measures, the pressure on the upward pressure on debt costs is expected to ease.
In the first half of this year, the only state-owned bank, which has not declined in its net interest rate, stated in its semi-annual report that the main reason why the bank's net interest margin remains consistent with the same period last year is that the bank continues to increase its support for the real economy, and the proportion of customer loans to interest-bearing assets has increased. The average balance of medium- and long-term RMB loans in mainland China accounts for 74.71% of RMB customer loans in mainland China. In addition, the Federal Reserve has raised interest rates on and raised the rate of return on foreign currency assets. At the same time, the bank insists on both quality and price, strengthens liability cost control, and actively reduces high-cost deposits, and the domestic RMB liability cost is relatively stable.
Regarding the future development trend of net interest rate, Guo Mang, deputy governor of Bank of Communications, said at the first half of the year's performance press conference that in the low-interest market environment, the interest spread of commercial banks may face certain downward pressure in the future. Agricultural Bank of China Vice President Lin Li predicts that although the net interest margin will still be under pressure to a certain extent, the margin will be narrowed.
Beijing News Shell Finance Reporter Jiang Fan Wang Yuchen Intern Lin Jingyi
Editor Chen Li Proofreading Xue Jingning
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