Industrial and Commercial Bank of China Limited (IDCBY) Q3 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Wang Liancheng, GM of Corporate Strategy and IR Department. Today, Board Secretary Guan Xuejing and other management personnel from the departments and subsidiaries are here to communicate with you. Our directors are also online. They are Feng Lidong, Cao Liquan, Yang Dingbang, and Yang Shaoxing. Our Q3 results have been released online. We can see that the Q3 results continue the robust performance. Core indicators are stable and robust. The net income totaled $269.9 billion, up by 0.8%. ROA was 0.86%. ROE was 10.56%, leading the peers. Net interest margin was 1.67%. The decrease was the same as the Q2 in the trajectory, the same with the main peers. NPR ratio was 1.36%, slightly lower compared with the beginning. And the CSRS difference continued to be negative for 14 consecutive quarters as the quality improved further. capital adequacy ratio was 18% more and provision coverage ratio was over 200%. The deposit and loan increased robustly. The loans increased more than 2.5 trillion. Investments improved by more than 850 billion. And the deposit increased over $4 trillion. Savings, corporate, and institutional loans increase all the peers. In the government, business, and customer GBC Plus customer ecology and DICBC, the digital ecology continues to optimize. Personal customers increased to 736 million. Corporate customers over 1.18 million. All kinds of customer base continue to solidify, and the active customers of mobile banking exceeded 200 million with ever-growing innovation. This is a brief introduction of our three Q3 results. Now we enter the Q&A session. Please identify yourself before raising questions. Thank you. The first question, please. Richard Xu from Morgan Stanley. Thank you for the opportunity to raise questions. In the future, for my questio...