Group Financial Position
| RMB million | As at 31 December 2023 | As at 31 December 2022 (Restated) | Increase/(Decrease) | |
|---|---|---|---|---|
| Amount | % | |||
| Total assets | 11,330,920 | 10,542,043 | 788,877 | 7.5% |
| Loans and advances to customers and other parties | 5,380,140 | 5,042,734 | 337,406 | 6.7% |
| Investments in financial assets | 3,356,367 | 3,143,196 | 213,171 | 6.8% |
| Cash and deposits | 625,135 | 677,327 | (52,192) | (7.7%) |
| Trade and other receivables | 254,452 | 211,392 | 43,060 | 20% |
| Fixed assets | 210,719 | 159,803 | 50,916 | 32% |
| Placement with banks and non-bank financial institutions | 237,742 | 217,354 | 20,388 | 9.4% |
| Total liabilities | 9,994,138 | 9,307,366 | 686,772 | 7.4% |
| Deposits from customers | 5,459,993 | 5,150,772 | 309,221 | 6.0% |
| Deposits from banks and non-bank financial institutions | 893,565 | 1,103,099 | (209,534) | (19%) |
| Debt instruments issued | 1,221,107 | 1,182,140 | 38,967 | 3.3% |
| Borrowing from central banks | 273,226 | 119,421 | 153,805 | 129% |
| Trade and other payables | 391,948 | 379,948 | 12,000 | 3.2% |
| Bank and other loans | 235,770 | 156,709 | 79,061 | 50% |
| Total ordinary shareholders’ funds | 703,178 | 660,109 | 43,069 | 6.5% |
Total assets
Total assets increased from RMB10,542,043 million as at 31 December 2022 to RMB11,330,920 million as at 31 December 2023, mainly attributable to an increase in loans and advances to customers and other parties as well as investments in financial assets.
Loans and advances to customers and other parties
As at 31 December 2023, the net loans and advances to customers and other parties of the Group were RMB5,380,140 million, an increase of RMB337,406 million or 6.7% compared to 31 December 2022. The proportion of loans and advances to customers and other parties to total assets was 47.48%, a decrease of 0.35 percentage points compared to 31 December 2022.
| RMB million | As at 31 December 2023 | As at 31 December 2022 (Restated) | Increase/(Decrease) | |
|---|---|---|---|---|
| Amount | % | |||
| Loans and advances to customers and other parties measured at amortised cost | ||||
| Corporate loans | 2,625,019 | 2,465,643 | 159,376 | 6.5% |
| Discounted bills | 1,784 | 3,704 | (1,920) | (52%) |
| Personal loans | 2,294,540 | 2,126,533 | 168,007 | 7.9% |
| Accrued interest | 20,188 | 17,385 | 2,803 | 16% |
| Total loans and advances to customers and other parties measured at amortised cost | 4,941,531 | 4,613,265 | 328,266 | 7.1% |
| Impairment allowances | (139,679) | (137,495) | (2,184) | (1.6%) |
| Carrying amount of loans and advances to customers and other parties measured at amortised cost | 4,801,852 | 4,475,770 | 326,082 | 7.3% |
| Loans and advances to customers and other parties at fair value through profit or loss | ||||
| Corporate loans | 5,558 | 3,881 | 1,677 | 43% |
| Loans and advances to customers and other parties measured at fair value through other comprehensive income | ||||
| Corporate loans | 58,064 | 54,851 | 3,213 | 5.9% |
| Discounted bills | 514,666 | 508,232 | 6,434 | 1.3% |
| Carrying amount of loans and advances to customers and other parties measured at fair value through other comprehensive income | 572,730 | 563,083 | 9,647 | 1.7% |
| Net loans and advances to customers and other parties | 5,380,140 | 5,042,734 | 337,406 | 6.7% |
Investments in financial assets
As at 31 December 2023, the investments in financial assets of the Group were RMB3,356,367 million, an increase of RMB213,171 million, or 6.8% compared with 31 December 2022. The proportion of investments in financial assets to total assets was 29.62%, a decrease of 0.19 percentage points compared with 31 December 2022.
(a)
Analysed by types
| RMB million | As at 31 December 2023 | As at 31 December 2022 (Restated) | Increase/(Decrease) | |
|---|---|---|---|---|
| Amount | % | |||
| Debt securities | 2,116,909 | 1,938,976 | 177,933 | 9.2% |
| Investment management products managed by non-bank financial institutions | 35,614 | 58,777 | (23,163) | (39%) |
| Investment funds | 553,540 | 555,883 | (2,343) | (0.4%) |
| Trust investment plans | 205,542 | 232,572 | (27,030) | (12%) |
| Certificates of deposit and certificates of interbank deposit | 126,908 | 96,531 | 30,377 | 31% |
| Equity investment | 278,361 | 233,828 | 44,533 | 19% |
| Wealth management products | 6,161 | 3,022 | 3,139 | 104% |
| Investments in creditor's rights on assets | 1,900 | 1,900 | – | – |
| Others | 40,193 | 36,319 | 3,874 | 11% |
| Subtotal | 3,365,128 | 3,157,808 | 207,320 | 6.6% |
| Accrued interest | 19,861 | 16,958 | 2,903 | 17% |
| Less: allowance for impairment losses | (28,622) | (31,570) | 2,948 | 9.3% |
| Total | 3,356,367 | 3,143,196 | 213,171 | 6.8% |
(b)
Analysed by measurement attribution
| RMB million | As at 31 December 2023 | As at 31 December 2022 (Restated) | Increase/(Decrease) | |
|---|---|---|---|---|
| Amount | % | |||
| Financial assets at amortised cost | 1,076,039 | 1,124,596 | (48,557) | (4.3%) |
| Financial assets at FVPL | 1,292,115 | 1,135,886 | 156,229 | 14% |
| Debt investments at FVOCI | 967,803 | 873,367 | 94,436 | 11% |
| Equity investments at FVOCI | 20,410 | 9,347 | 11,063 | 118% |
| Total | 3,356,367 | 3,143,196 | 213,171 | 6.8% |
Deposits from customers
As at 31 December 2023, deposits from customers of the Group were RMB5,459,993 million, an increase of RMB309,221 million or 6.0% compared to 31 December 2022. The proportion of deposits from customers to total liabilities was 54.63%, a decrease of 0.71 percentage points compared to 31 December 2022.
| RMB million | As at 31 December 2023 | As at 31 December 2022 (Restated) | Increase/(Decrease) | |
|---|---|---|---|---|
| Amount | % | |||
| Corporate deposits | ||||
| Time deposits | 1,755,882 | 1,854,108 | (98,226) | (5.3%) |
| Demand deposits | 2,149,823 | 1,931,755 | 218,068 | 11% |
| Subtotal | 3,905,705 | 3,785,863 | 119,842 | 3.2% |
| Personal deposits | ||||
| Time deposits | 1,125,384 | 942,803 | 182,581 | 19% |
| Demand deposits | 340,432 | 349,013 | (8,581) | (2.5%) |
| Subtotal | 1,465,816 | 1,291,816 | 174,000 | 13% |
| Outward remittance and remittance payables | 19,022 | 14,420 | 4,602 | 32% |
| Accrued interest | 69,450 | 58,673 | 10,777 | 18% |
| Total | 5,459,993 | 5,150,772 | 309,221 | 6.0% |
Bank and other loans
| RMB million | As at 31 December 2023 | As at 31 December 2022 (Restated) | Increase/(Decrease) | |
|---|---|---|---|---|
| Amount | % | |||
| Comprehensive financial services | 10,344 | 12,716 | (2,372) | (19%) |
| Advanced intelligent manufacturing | 6,018 | 12,840 | (6,822) | (53%) |
| Advanced materials | 90,205 | 41,813 | 48,392 | 116% |
| New consumption | 6,608 | 5,670 | 938 | 17% |
| New-type urbanisation | 54,245 | 50,270 | 3,975 | 7.9% |
| Operation management | 125,712 | 94,793 | 30,919 | 33% |
| Elimination | (58,000) | (62,014) | 4,014 | 6.5% |
| Subtotal | 235,132 | 156,088 | 79,044 | 51% |
| Accrued interest | 638 | 621 | 17 | 2.7% |
| Total | 235,770 | 156,709 | 79,061 | 50% |
Debt instruments issued
| RMB million | As at 31 December 2023 | As at 31 December 2022 (Restated) | Increase/(Decrease) | |
|---|---|---|---|---|
| Amount | % | |||
| Comprehensive financial services | 1,133,946 | 1,081,892 | 52,054 | 4.8% |
| Advanced intelligent manufacturing | – | – | – | – |
| Advanced materials | 5,259 | 5,011 | 248 | 4.9% |
| New consumption | 3,184 | 3,129 | 55 | 1.8% |
| New-type urbanisation | – | – | – | – |
| Operation management | 74,009 | 86,878 | (12,869) | (15%) |
| Elimination | (2,818) | (1,831) | (987) | (54%) |
| Subtotal | 1,213,580 | 1,175,079 | 38,501 | 3.3% |
| Accrued interest | 7,527 | 7,061 | 466 | 6.6% |
| Total | 1,221,107 | 1,182,140 | 38,967 | 3.3% |
Total ordinary shareholders’ equity
As at 31 December 2023, total ordinary shareholders’ equity of the Group amounted to RMB703,178 million, an increase of RMB43,069 million as compared with 31 December 2022.