China Everbright Bank Posts 24% Drop in First-Half Net Profit

Deep News08-28

On August 28, China Everbright Bank Company Limited (SSE: 601818) released its interim results, revealing a 24.01% year-on-year decline in net profit attributable to shareholders, amounting to 18.711 billion yuan for the first half of the year.

During the reporting period, the group generated operating income of 63.108 billion yuan, a 4.31% decrease from the previous year. Net interest income rose 3.17% to 46.871 billion yuan, while net fee and commission income fell 7.34% to 9.676 billion yuan. The bank achieved a net profit of 18.838 billion yuan, down 23.86% year-on-year, with basic earnings per share at 0.28 yuan.

In terms of asset quality, by the end of the reporting period, the group's non-performing loan (NPL) balance stood at 58.639 billion yuan, an increase of 7.897 billion yuan from the end of the previous year. The NPL ratio rose to 1.44%, up 0.17 percentage points from the prior year-end. The provision coverage ratio totaled 150.02%, a decrease of 24.12 percentage points, while the loan provision ratio was 2.16%, down 0.06 percentage points compared to the end of last year.

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