Agricultural Bank Of Chin (ACGBF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, good afternoon. Welcome. I would like to say welcome to all the investors, analysts and media friends to attend the 2023 annual results announcement of the ABC. Well, actually, for ABC, We have left Hong Kong for eight years in terms of the convening of our announcements. So we are very happy to come back to Hong Kong to have this face-to-face meeting with all of you. And also we have a lot of friends, analysts attending this conference online or in Beijing's venue. And today we also have... management representatives as well as independent directors attending this conference. So we can start from our operating results of 2023 for the ABC. And last year, China's economy rebounded, paving a solid foundation for the development of finance industry. And our performance was also pretty good last year. So to sum it up, I think there are two points worth mentioning. One, the first one is that our operating revenue is experiencing steady growth. Our net profits was 269.8 billion yuan, a growth rate 4.2%, and ROE is 10.91%. Our operating income was 694.8 billion yuan, maintaining positive growth. And in the last year, we've been faced with very complex external environment. our operating income still remain positive growth. That is not an easy task for us to do. Second, Our strength of the core group continues to increase. Our total assets reached 39.9 trillion yuan, an increase of 5.9 trillion yuan. And the loans increased by 2.85 trillion yuan to 22.6 trillion yuan. And the NPL ratio was 1.33% down by 0.44 percentage points to compare with the end of previous year. And our provision coverage has reached of 303.87%. And the balance of the customer deposits was 28.5 trillion yuan. And domestically speaking, the deposits of our customers domestically inc...