reviews

Everbright Bank's 24Q1 net profit increased 0.39% year over year, and revenue decreased 9.61% year over year. The scale of the business grew steadily, and the operating efficiency was in line with expectations. The asset size was 6.9 trillion yuan, up 1.84% from the end of 2023. The balance of loans for technology-based enterprises and the balance of green loans increased by 23.90% and 18.97%, respectively, from the end of 2023.

The scale of the business is growing steadily. As of 24Q1, Everbright Bank's total assets were 6897.528 billion yuan, up 1.84% from the end of 2023. Among them, the total principal amount of loans and advances was 3906.197 billion yuan, up 3.15% from the end of 2023; total liabilities were 6329.733 billion yuan, up 1.80% from the end of 2023. Among them, the deposit balance was 4124.619 billion yuan, up 0.73% from the end of 2023.

The three major Polaris indicators, AUM, FPA, and GMV, are developing with high quality. The retail finance business anchors AUM, highlights the two characteristics of “wealth management” and “fintech”, and focuses on the four core businesses of “wealth management, retail deposits, retail credit, and credit cards.” As of 24Q1, retail AUM was 2.8 trillion yuan. The company's financial business is guided by FPA, integrates business advantages such as commercial banks, investment banks, private banks, etc., and serves the entire life cycle of customers with all types of financing. The value creation efficiency continues to improve. The 24Q1 FPA (total amount of corporate customer financing) is 5.04 trillion yuan. The financial market business is guided by GMV, building a new digital integrated service platform, releasing a digital integrated service platform for financial institutions to provide financial customers with four major services: product consignment, matching transactions, technology export and research information, and upgrading the comprehensive business model for the interbank customer base. The total 24Q1 interbank financial transaction volume (GMV) was 749.6 billion yuan.

Fintech service capabilities are constantly improving. Everbright Bank continues to enhance its precise support for key strategies, key areas and weak links. In terms of technology finance, technology finance service capabilities have been continuously improved around strategic emerging industries such as new energy, new materials, advanced manufacturing, and electronic information. At the end of the reporting period, the loan balance for technology-based enterprises was 331.013 billion yuan, an increase of 63.861 billion yuan over the end of 2023, an increase of 23.90%.

The integrated service system for green finance and inclusive finance has been gradually improved. In terms of green finance, we continue to innovate product service systems, improve support policies and resource allocation, build a “green finance +” integrated service system, and promote Everbright's green capacity building. At the end of the reporting period, the green loan balance was 373.29 billion yuan, an increase of 59.528 billion yuan over the end of 2023, an increase of 18.97%. In terms of inclusive finance, improve the long-term mechanism of “dare to lend, willing to lend, energy loan and credit”, and use online products and operations as breakthroughs to better meet the diverse financial needs of small and micro enterprises. At the end of the reporting period, the balance of inclusive loans was 412.506 billion yuan, an increase of 33.373 billion yuan over the end of 2023, an increase of 8.80%.

risks

The solvency of enterprises has declined, and asset quality has deteriorated dramatically; financial supervision policies have undergone major changes.