Shanghai Pudong Development Bank Co., Ltd. has released its 2023 Annual Results Express Announcement, revealing some key financial data and indicators for the year.
According to the announcement, the company’s operating income for 2023 was 173.434 billion RMB, showing a decrease of 8.05% compared to the previous year. Additionally, the net profit attributable to shareholders of the parent company was 36.702 billion RMB, marking a decline of 28.28% from 2022.
Despite facing challenges such as asset repricing, falling market interest rates, and capital market fluctuations, the company reported stable and positive business development during the reporting period. The Group’s total assets exceeded 9 trillion RMB, reaching 9,007.247 billion RMB, with total loans and deposits also showing growth from the previous year.
The company’s risk management efforts led to a decrease in non-performing loans and an increase in the provision coverage ratio. The non-performing loan ratio decreased to 1.48%, while the provision coverage ratio rose to 173.51%.
Looking ahead, the company acknowledges the preliminary nature of the financial data in the announcement and cautions investors to be aware of potential risks. The company will make a separate announcement if any significant differences arise between the preliminary data and the audited data to be disclosed in the 2023 annual report.
For further details, investors can inspect a comparative balance sheet and income statement signed by the company’s leadership. The Board of Directors of Shanghai Pudong Development Bank Co., Ltd. assures the authenticity, accuracy, and completeness of the announcement.
The news comes amidst the company’s efforts to implement the digital intelligence strategy and pursue high-quality development in a challenging economic environment.
(Source: China Finance Network)