With the end of the third quarter report of 2023, the bread finance researcher sorted out the operating performance and core regulatory indicators of the six state-owned banks.
In the first three quarters, the revenue and net profit of the six major state-owned banks maintained growth as a whole. From July to September 2023, the revenue of state-owned banks generally declined, among which the profits of the Postal Savings Bank and the Bank of Communications both declined.
As of the end of September 2023, the asset quality of the six major state-owned banks remained generally good, and the non-performing loan ratio all decreased. The provision coverage ratio meets the regulatory requirements, but the Bank of China and the Bank of Communications are relatively low, and the Postal Savings Bank is the only state-owned bank with a decline in the provision coverage ratio.
In September this year, all six state-owned banks were included in the 2023 Mainland Systemic Important Banks, and there are also higher requirements for their core Tier 1 capital adequacy ratios. According to the data, as of the end of September, the core Tier 1 capital adequacy ratio of state-owned banks generally declined slightly, but all were at a high level.
Third Quarter Revenue: Only BOC posted growth
According to the data, in the first three quarters of 2023, the six state-owned banks achieved a total revenue of 2.7 trillion yuan, a year-on-year increase of 0.11%. However, the revenue in the third quarter was 855.858 billion yuan, a year-on-year decrease of 2.57%, and the revenue of state-owned banks generally declined.
In the third quarter of 2023, ICBC achieved revenue of 203.774 billion yuan, ranking first. followed by China Construction Bank, which achieved revenue of 188.185 billion yuan in the third quarter.
Compared with the same period last year, only Bank of China achieved revenue growth, while the remaining five all declined. According to the data, Bank of China achieved revenue of 151.419 billion yuan in the third quarter, a year-on-year increase of 3.4%.
In the first three quarters of 2023, the revenue of Bank of China, Bank of Communications and Postal Savings Bank increased compared to the same period last year, while the other three decreased slightly.
Net profit attributable to the parent company in the third quarter: Postal Savings Bank and Bank of Communications declined
According to the data, in the first three quarters of 2023, the six state-owned banks achieved a total net profit of 1.05 trillion yuan attributable to the parent company, a year-on-year increase of 2.48%. In the third quarter, the net profit attributable to the parent company was 361.142 billion yuan, a year-on-year increase of 2.27%.
In the third quarter of 2023, the net profit attributable to the parent of ICBC, CCB, ABC and Bank of China all exceeded 50 billion yuan, of which ICBC's net profit attributable to the parent company was the highest, at 94.929 billion yuan.
Compared with the same period last year, the net profit attributable to the parent of state-owned banks generally increased, of which the Agricultural Bank of China grew rapidly, and the net profit attributable to the parent company in the third quarter increased by 7.76% year-on-year. The net profit attributable to the parent of the Postal Savings Bank and the Bank of Communications declined, down 2.41% and 2.98% respectively from the same period last year.
In the first three quarters of 2023, the net profit attributable to the parent of the six state-owned banks all increased, with Agricultural Bank of China and China Construction Bank ranking the top two, with growth rates of 4.97% and 3.11% respectively.
Provision coverage ratio: Bank of China and Bank of Communications are low, and Postal Savings Bank is down
Bread Finance combed through the financial report information and found that the asset quality of the six state-owned banks remained good overall, and the non-performing loan ratio decreased while the provision coverage ratio generally improved.
As of the end of the third quarter of 2023, PSBC had the lowest non-performing loan ratio of 0.81%. Compared with the end of the previous year, the non-performing loan ratios of the six state-owned banks all decreased. Among them, the Bank of China fell by 0.05 percentage points from the end of the previous year.
In terms of provision coverage ratio, as of the end of the third quarter of 2023, the provision coverage ratio of Postal Savings Bank and Agricultural Bank of China ranked the top two, with 363.91% and 304.12% respectively. Bank of China and Bank of Communications have relatively low provision coverage ratios of 195.18% and 198.91%, respectively
Compared with the end of the previous year, Bank of Communications' provision coverage ratio increased by 18.23 percentage points from the end of the previous year. The Postal Savings Bank was the only state-owned bank with a decline in the provision coverage ratio, down 21.6 percentage points from the end of the previous year.
Capital adequacy ratio: ICBC is the highest
According to the data, as of the end of September 2023, the capital adequacy ratio indicators of the six state-owned banks have declined, but they are all at a high level.
According to the data, ICBC, China Construction Bank and Bank of China all rank among the top three in terms of capital adequacy ratios. Compared with the end of the previous year, the capital adequacy ratio and core Tier 1 capital adequacy ratio of the Postal Savings Bank increased by 0.01 and 0.1 percentage points respectively compared with the end of the previous year, while the rest of the banks decreased to varying degrees.
On September 22, the People's Bank of China (PBOC) and the State Administration of Financial Supervision (SAFS) jointly released the list of systemically important banks in mainland China in 2023, of which PSBC is in the second group, Bank of Communications is in the third group, and Industrial and Commercial Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China are all in the fourth group. According to regulatory requirements, systemically important banks are required to meet certain additional capital requirements, which are met by core Tier 1 capital, in addition to the minimum capital requirements, reserve capital and countercyclical capital requirements. Currently, there are five groups of systemically important banks, with additional capital requirements of 0.25%, 0.5%, 0.75%, 1% and 1.5% applied to banks in groups 1 to 5, respectively.
(Article Serial Number: 1722501864949420032)
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