Consolidated Income Statement
For the year ended 31 December 2023
(Expressed in millions of Renminbi, unless otherwise stated)
(Expressed in millions of Renminbi, unless otherwise stated)
| For the year ended 31 December | |||
|---|---|---|---|
| Note | 2023 | 2022 (Restated) | |
| Interest income | 338,914 | 330,378 | |
| Interest expenses | (190,395) | (172,809) | |
| Net interest income | 5(a) | 148,519 | 157,569 |
| Fee and commission income | 73,046 | 73,910 | |
| Fee and commission expenses | (11,456) | (8,656) | |
| Net fee and commission income | 5(b) | 61,590 | 65,254 |
| Sales of goods and services | 5(c) | 417,580 | 401,842 |
| Other revenue | 5(d) | 53,143 | 38,773 |
| 470,723 | 440,615 | ||
| Total revenue | 680,832 | 663,438 | |
| Cost of sales and services | 6 | (372,807) | (355,878) |
| Other net income | 7 | 8,657 | 16,343 |
| Expected credit losses | 8 | (65,615) | (79,005) |
| Impairment losses | 9 | (4,595) | (7,584) |
| Other operating expenses | 11 | (122,071) | (113,471) |
| Net valuation loss on investment properties | (177) | (652) | |
| Share of profits of associates, net of tax | 5,695 | 6,494 | |
| Share of profits of joint ventures, net of tax | 3,708 | 4,672 | |
| Profit before net finance charges and taxation | 133,627 | 134,357 | |
| Finance income | 1,832 | 1,407 | |
| Finance costs | (12,172) | (8,472) | |
| Net finance charges | 10 | (10,340) | (7,065) |
| Profit before taxation | 11 | 123,287 | 127,292 |
| Income tax | 12 | (18,013) | (21,469) |
| Profit for the year | 105,274 | 105,823 | |
| Attributable to: | |||
| – Ordinary shareholders of the Company | 57,594 | 64,931 | |
| – Non-controlling interests | 47,680 | 40,892 | |
| Profit for the year | 105,274 | 105,823 | |
| Earnings per share for profit attributable to ordinary shareholders of the Company during the year: | |||
| Basic earnings per share (RMB) | 16 | 1.98 | 2.23 |
| Diluted earnings per share (RMB) | 16 | 1.98 | 2.23 |
The notes form part of these consolidated financial statements.