Industrial and Commercial Bank of China Limited (IDCBY) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thanks for your participation. The meeting is ready to start. Please remain on the line. ICBC SEVP, Mr. Yao-Ming Zhe, lead the general managers of relevant departments and subsidiaries to carry out this communication review. The Q3 results were already released. In general, since this year, we faced with low interest rates environments. We accelerated intelligent risk control, modern layouts, digital drivers, diversify structure, ecological foundation, the so-called five transformation. We cultivated new drivers and create a new balance between common expenses Our operations maintained robust. First, the main indicators performed well. In the first three quarters, net income was over $270 billion by 0.2%. The increase turned positive. Operating income was $599.1 billion. The decrease shrank. NPL ratio 1.35%, down by one bit. Capital adequacy ratio was 19.25%. Provision coverage ratio maintained 200% above. Second balance sheet continued to expand. Total assets was $48.3 trillion by $3.7 trillion. The loans increased by $2 trillion investments, $1.4 trillion. The mix continued to be optimized. Liabilities increased $44.4 trillion up by $3.5 trillion. The deposit deviation recorded the lowest in the same term in the recent five years. So the high-quality development drivers continue to pick up. GBC Plus Strategy and DICBC continue to optimize. Personal customers increased to 755 million customers. Corporate customers, 13.15 million, and banking was over 200 million. Such is the briefing on the Q3 results of ICBC. Now we will start the Q&A session. Please raise questions, and before that, please identify yourself with your institution and name. Thank you. The first question, please. The first question comes from of Morgan Stanley. Thank you for the opportunity. I'm the ...