◎ Reporter Ma Qian
In the near future, A-share listed banks will make intensive disclosure in the first quarter of 2024. According to the statistics of Shanghai Securities News, as of April 26, 22 listed banks have disclosed their performance in the first quarter of 2024.
Driven by the good situation of "a good start" in the first quarter, the performance of listed banks remained stable as a whole. However, it is not difficult to find that the interest margin of listed banks has been further compressed, and the asset quality of loans in some areas is under pressure.
In large state-owned banks, Bank of Communications "Leading the way", the first quarterly report took the lead - the bank realized a net profit attributable to the parent company of 24.988 billion yuan in the first quarter, up 1.44% year on year. In the share line, Ping An Bank In the first quarter, the net profit attributable to the parent company was 14.932 billion yuan, up 2.3% year on year. Industrial Bank The net profit attributable to the parent company was 24.336 billion yuan, down 3.10% year on year, mainly due to the Bank's strengthening of risk resistance and the year-on-year increase in impairment provision.
Urban rural commercial banks headquartered in the Yangtze River Delta region had outstanding performance in the first quarter. Among them, Bank of Hangzhou Net profit attributable to the parent company increased by 21.11% year on year, the fastest growth rate; Sunong Bank 、 Bank of Jiangsu 、 Concord Bank 、 Jiangyin Bank The growth rate of net profit attributable to the parent company was more than 10%. The listed city firms in other regions also showed outstanding performance, for example, Bank of Chengdu 、 Qilu Bank Net profit attributable to the parent company increased by 12.83% and 18.02% year on year respectively.
A few banks have seen their revenue decline. Ping An Bank, Bank of Communications Bank of Shanghai The revenue in the first quarter decreased by 14.03%, 0.03% and 0.92% year on year respectively. Ping An Bank said that the decline in revenue was caused by factors such as the continuous interest transfer of the real economy and the adjustment of the asset structure. The revenue of Bank of Shanghai continued to decline from 2022 to the first quarter of this year. Its revenue in the first quarter fell 0.92% year on year, but the decline was somewhat narrowed.
More Chongqing Rural Commercial Bank 、 Bank of Guiyang The revenue and net profit of. In the first quarter, Yunong Commercial Bank's revenue and net profit attributable to the parent decreased by 2.88% and 10.81% respectively year on year, mainly because of the sharp increase in credit impairment losses. Guiyang Bank's revenue and net profit attributable to the parent decreased by 2.51% and 3.65% respectively year on year. The bank explained that the net interest margin was further narrowed due to factors such as the continuous interest granting real economy and the overall decline of market interest rates.
Under the dual pressure of deposit and loan, the net interest margin of listed banks fell to the lowest level in history. For example, in the first quarter, the net interest rate of Bank of Communications was 1.27%, down 6 basis points year on year; The net interest margin of Industrial Bank was 1.87%, down 10 basis points year on year. The net interest margin of Ping An Bank was 2.01%, down 62 basis points year on year.
The "war of defense" of bank interest margin has already started. How effective is it?
Ping An Bank took the initiative to adjust the asset structure, expand the medium and low risk customer group, and improve the proportion of high-quality assets. However, the average cost rate of deposit taking in the first quarter was 2.22%, an increase of 2 basis points over the same period last year, due to the continuous high interest rate in the foreign currency market and the fixed deposit of RMB. Ping An Bank said that in the future, it will strengthen customer expansion and operation, strengthen the control of high cost deposit products, promote the precipitation of low-cost settlement deposits, and continue to optimize deposit costs.
Industrial Bank said that its cost control achieved the expected results. On the basis of keeping the deposit scale stable at 5.10 trillion yuan, the deposit interest payment rate fell by 12 basis points year-on-year to 2.12%. "In the past, some unreasonable negotiated deposits were due, and the debt structure was improved. The decline of the market interest rate center also led to the decline of the cost of debt." Chen Xinjian, President of Industrial Bank, said at the performance briefing of the first quarter of 2024.
With the risk exposure of individual industries, the asset quality of some banks has deteriorated. As of the end of the first quarter, the non-performing loan ratio of Ping An Bank was 1.07%, up 0.01 percentage points from the end of 2023, including 1.18% of public real estate loans, up 0.32 percentage points from the end of 2023.
The non-performing loan ratio of Guiyang Bank was 1.63%, up 0.04 percentage points from the beginning of the year, mainly due to the lack of effective market demand and the risk exposure of some industries. Guiyang Bank said that it would pay close attention to risks in key areas and industries, increase efforts to collect and dispose of non-performing stocks, promote risk prevention and resolution, and maintain controllable asset quality.
Several banks took precautions to strengthen asset disposal in the first quarter and strive to maintain stable asset quality. Ping An Bank said that it would strengthen asset quality control and promote risk prevention and resolution. Chongqing Rural Commercial Bank said that it would continue to increase the collection of non-performing assets and strive to maintain the stability of the amount of money collected throughout the year.
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