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China Everbright Bank

Everbright Bank's net profit rose 18.7% yoy to CNY 10,711 mil in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank made a net profit of CNY 10,711 mil under revenues of CNY 32,467 mil in the second quarter of 2019, up 18.7% an...

Everbright Bank's net profit rose 18.7% yoy to CNY 10,711 mil in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank made a net profit of CNY 10,711 mil under revenues of CNY 32,467 mil in the second quarter of 2019, up 18.7% an...

Everbright Bank's corporate loans rose 15.8% yoy to CNY 1,464,500 mil in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank's loans reached CNY 2,602,500 mil in the second quarter of 2019, up from CNY 2,509,700 mil when compar...

Profit Statement Dec 2018 Mar 2019 Jun 2019
Net Interest Income CNY mil 17,157 24,233 24,950
Net Fee Income CNY mil 9,173 6,955 5,794
Other Income CNY mil 2,518 3,326 1,723
Total Revenues CNY mil 28,848 34,514 32,467
Operating Profit CNY mil 20,562 25,389 23,199
Provisions CNY mil 11,196 12,958 9,822
Net Profit CNY mil 5,899 9,733 10,711
Balance Sheet Dec 2018 Mar 2019 Jun 2019
Interbank Loans CNY mil 175,463 231,175 198,186
Customer Loans CNY mil 2,361,300 2,447,900 2,530,600
Total Assets CNY mil 4,357,300 4,520,300 4,647,000
Shareholders' Equity CNY mil 322,473 332,904 334,085
Interbank Borrowing CNY mil 1,215,600 825,171 816,211
Customer Deposits CNY mil 2,581,700 2,842,100 3,247,800
Issued Debt Securities CNY mil 164,844 444,410 162,708
Ratios Dec 2018 Mar 2019 Jun 2019
ROE % 7.40 11.9 12.8
ROA % 0.542 0.877 0.935
Costs (As % Of Assets) % 0.761 0.822 0.809
Costs (As % Of Income) % 28.7 26.4 28.5
Capital Adequacy Ratio % 13.0 12.9 12.3
Net Interest Margin % 1.58 2.18 2.18
Loans (As % Of Deposits) % 91.5 86.1 77.9
NPLs (As % Of Loans) % 1.61 1.59 2.12
Provisions (As % Of NPLs) % 154 154 130
Valuation Dec 2018 Mar 2019 Jun 2019
Price/Earnings (P/E) 6.57 6.93 6.31
Price/Book Value (P/BV) 0.685 0.715 0.681
Dividend Yield % 0 0 0
Earnings Per Share (EPS) CNY 0.543 0.600 0.579
Book Value Per Share CNY 5.20 5.81 5.37
Dividend Per Share CNY 0 0 0

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summary Unit Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
income statement                                                                        
Net Interest Income CNY mil                                                           15,844 16,025 18,459 16,547 17,157    
Total Revenues CNY mil                                                           23,850 25,917 28,106 29,778 28,848    
Operating Profit CNY mil                                                           14,463 18,612 19,084 20,650 20,562    
Net Profit CNY mil                                                           6,112 9,051 9,024 9,685 5,899    
balance sheet                                                                        
Interbank Loans CNY mil                                                           285,011 271,165 238,284 198,676 175,463    
Customer Loans CNY mil                                                           1,980,800 2,058,900 2,174,600 2,311,600 2,361,300    
Debt Securities CNY mil                                                           1,297,900 1,319,600 1,305,000 1,332,500 1,324,700    
Total Assets CNY mil                                                           4,088,200 4,163,200 4,283,300 4,355,400 4,357,300    
Shareholders' Equity CNY mil                                                           305,436 306,584 304,865 315,038 322,473    
Interbank Borrowing CNY mil                                                           962,326 951,807 1,051,000 1,067,400 1,215,600    
Customer Deposits CNY mil                                                           2,567,100 2,345,900 2,660,400 2,485,000 2,581,700    
Issued Debt Securities CNY mil                                                           150,939 459,290 153,140 369,254 164,844    
ratios                                                                        
ROE %                                                           8.43 11.8 11.8 12.5 7.40    
ROA %                                                           0.602 0.878 0.855 0.897 0.542    
Costs (As % Of Assets) %                                                           0.925 0.708 0.855 0.845 0.761    
Costs (As % Of Income) %                                                           39.4 28.2 32.1 30.7 28.7    
Capital Adequacy Ratio %                                                           13.5 13.3 12.7 12.7 13.0    
Net Interest Margin %                                                           1.56 1.55 1.75 1.53 1.58    
Interest Income (As % Of Revenues) %                                                           66.4 61.8 65.7 55.6 59.5    
Fee Income (As % Of Revenues) %                                                           30.3 21.5 17.4 31.4 31.8    
Equity (As % Of Assets) %                                                           7.47 7.36 7.12 7.23 7.40    
Loans (As % Of Deposits) %                                                           77.2 87.8 81.7 93.0 91.5    
Loans (As % Assets) %                                                           48.5 49.5 50.8 53.1 54.2    
NPLs (As % Of Loans) % ...                                                         2.59 1.59 2.38 1.58 1.61    
Provisions (As % Of NPLs) % ...                                                         97.5 176 109 171 154    
valuation                                                                        
Market Capitalisation (End Of Period) USD mil                                                           25,580 25,582 24,473 26,211 24,803    
Number Of Shares (Average) mil                                                           53,091 56,569 62,329 58,094 62,020    
Share Price (End Of Period) HKD                                                           3.76 3.55 3.08 3.53 3.13    
Earnings Per Share (EPS) CNY                                                           0.594 0.566 0.524 0.583 0.543    
Book Value Per Share CNY                                                           5.75 5.42 4.89 5.42 5.20    
Dividend Per Share CNY                                                           0 0 0 0 0    
Price/Earnings (P/E)                                                           7.60 7.83 6.97 6.91 6.57    
Price/Book Value (P/BV)                                                           0.785 0.817 0.747 0.742 0.685    
Dividend Yield %                                                           0 0 0 0 0    
Earnings Per Share Growth % ... ... ... ...                                                   -8.55 -13.3 -6.90 -1.19 -8.66    
Book Value Per Share Growth % ... ... ... ...                                                   6.96 -4.08 0.588 4.95 -9.62    
income statement Unit Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
income statement                                                                        
Interest Income CNY mil                                                           41,775 42,846 45,393 44,174 43,299    
Interest Cost CNY mil                                                           25,931 26,821 26,934 27,627 26,142    
Net Interest Income CNY mil                                                           15,844 16,025 18,459 16,547 17,157    
Net Fee Income CNY mil                                                           7,231 5,577 4,901 9,345 9,173    
Other Income CNY mil                                                           775 4,315 4,746 3,886 2,518    
Total Revenues CNY mil                                                           23,850 25,917 28,106 29,778 28,848    
Operating Cost CNY mil                                                           9,387 7,305 9,022 9,128 8,286    
Operating Profit CNY mil                                                           14,463 18,612 19,084 20,650 20,562    
Provisions CNY mil                                                           6,184 6,960 7,799 8,798 11,196    
Extra and Other Cost CNY mil                                                           611 552 725 636 1,390    
Pre-Tax Profit CNY mil                                                           7,668 11,100 10,560 11,216 7,976    
Tax CNY mil                                                           1,537 2,029 1,530 1,519 2,053    
Minorities CNY mil                                                           19.0 20.0 6.00 12.0 24.0    
Net Profit CNY mil                                                           6,112 9,051 9,024 9,685 5,899    
growth rates                                                                        
Net Interest Income Growth % ... ... ... ...                                                   -3.72 5.41 21.6 12.4 8.29    
Net Fee Income Growth % ... ... ... ...                                                   4.99 -32.1 -37.0 23.8 26.9    
Total Revenue Growth % ... ... ... ...                                                   1.90 7.47 24.5 29.5 21.0    
Operating Cost Growth % ... ... ... ...                                                   14.3 8.59 19.1 25.0 -11.7    
Operating Profit Growth % ... ... ... ...                                                   -4.80 7.04 27.2 31.5 42.2    
Pre-Tax Profit Growth % ... ... ... ...                                                   -3.74 -3.03 0.028 2.21 4.02    
Net Profit Growth % ... ... ... ...                                                   3.73 5.50 7.94 14.0 -3.48    
balance sheet Unit Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
balance sheet                                                                        
Cash CNY mil                                                           353,703 363,316 376,711 341,493 366,575    
Interbank Loans CNY mil                                                           285,011 271,165 238,284 198,676 175,463    
Customer Loans CNY mil                                                           1,980,800 2,058,900 2,174,600 2,311,600 2,361,300    
Retail Loans CNY mil ...                                                         830,004 882,084 934,165 993,682 1,053,200    
Mortgage Loans CNY mil ...                                                         367,665 371,030 374,395 378,084 381,772    
Consumer Loans CNY mil ...                                                         462,339 511,054 559,770 615,599 671,428    
Corporate Loans CNY mil ...                                                         1,202,100 1,233,350 1,264,600 1,303,300 1,342,000    
Debt Securities CNY mil                                                           1,297,900 1,319,600 1,305,000 1,332,500 1,324,700    
Total Assets CNY mil                                                           4,088,200 4,163,200 4,283,300 4,355,400 4,357,300    
Shareholders' Equity CNY mil                                                           305,436 306,584 304,865 315,038 322,473    
Of Which Minority Interest CNY mil                                                           676 680 686 807 985    
Liabilities CNY mil                                                           3,782,760 3,856,620 3,978,440 4,040,360 4,034,830    
Interbank Borrowing CNY mil                                                           962,326 951,807 1,051,000 1,067,400 1,215,600    
Customer Deposits CNY mil                                                           2,567,100 2,345,900 2,660,400 2,485,000 2,581,700    
Sight Deposits CNY mil ...                                                         885,758 903,755 921,752 922,986 924,220    
Term Deposits CNY mil ...                                                         1,681,340 1,442,140 1,738,650 1,562,010 1,657,480    
Issued Debt Securities CNY mil                                                           150,939 459,290 153,140 369,254 164,844    
Other Liabilities CNY mil                                                           102,399 99,619 113,895 118,708 72,683    
asset quality                                                                        
Non-Performing Loans CNY mil                                                           52,553 33,755 53,066 37,461 38,879    
Gross Loans CNY mil ...                                                         2,032,100 2,118,200 2,232,700 2,375,900 2,421,300    
Total Provisions CNY mil ...                                                         51,238 59,296 58,035 64,220 60,051    
growth rates                                                                        
Customer Loan Growth % ... ... ... ...                                                   13.1 11.3 13.4 17.8 19.2    
Retail Loan Growth % ... ... ... ... ...                                                 25.2 25.0 24.8 25.9 26.9    
Mortgage Loan Growth % ... ... ... ... ...                                                 26.7 17.6 9.79 6.70 3.84    
Consumer Loan Growth % ... ... ... ... ...                                                 23.9 31.0 37.4 41.6 45.2    
Corporate Loan Growth % ... ... ... ... ...                                                 6.18 5.05 4.00 7.80 11.6    
Total Asset Growth % ... ... ... ...                                                   1.70 0.877 6.19 8.06 6.58    
Shareholders' Equity Growth % ... ... ... ...                                                   21.7 16.2 14.5 14.8 5.58    
Customer Deposit Growth % ... ... ... ...                                                   21.0 4.57 17.1 11.6 0.569    
market share                                                                        
Market Share in Customer Loans %                                                           1.54 1.54 1.58 1.62 1.63   ...
Market Share in Total Assets % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 ... ... ... ... ... ... ... ... ... ...
Market Share in Customer Deposits % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 ... ... ... ... ... ... ... ... ... ...
ratios Unit Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
ratios                                                                        
ROE %                                                           8.43 11.8 11.8 12.5 7.40    
ROA %                                                           0.602 0.878 0.855 0.897 0.542    
Costs (As % Of Assets) %                                                           0.925 0.708 0.855 0.845 0.761    
Costs (As % Of Income) %                                                           39.4 28.2 32.1 30.7 28.7    
Capital Adequacy Ratio %                                                           13.5 13.3 12.7 12.7 13.0    
Tier 1 Ratio %                                                           10.6 10.3 9.82 9.84 10.1    
Net Interest Margin %                                                           1.56 1.55 1.75 1.53 1.58    
Interest Spread % ...                                                         1.36 1.35 1.55 1.33 1.39    
Asset Yield %                                                           4.12 4.15 4.30 4.09 3.98    
Cost Of Liabilities % ...                                                         2.75 2.81 2.75 2.76 2.59    
Payout Ratio %                                                           0 0 0 0 0    
Interest Income (As % Of Revenues) %                                                           66.4 61.8 65.7 55.6 59.5    
Fee Income (As % Of Revenues) %                                                           30.3 21.5 17.4 31.4 31.8    
Other Income (As % Of Revenues) %                                                           3.25 16.6 16.9 13.0 8.73    
Equity (As % Of Assets) %                                                           7.47 7.36 7.12 7.23 7.40    
Loans (As % Of Deposits) %                                                           77.2 87.8 81.7 93.0 91.5    
Loans (As % Assets) %                                                           48.5 49.5 50.8 53.1 54.2    
NPLs (As % Of Loans) % ...                                                         2.59 1.59 2.38 1.58 1.61    
Provisions (As % Of NPLs) % ...                                                         97.5 176 109 171 154    
Provisions (As % Of Loans) % ...                                                         2.59 2.88 2.67 2.78 2.54    
Cost of Provisions (As % Of Loans) %                                                           1.25 1.38 1.47 1.57 1.92    
other data Unit Sep 2010 Dec 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Mar 2012 Jun 2012 Sep 2012 Dec 2012 Mar 2013 Jun 2013 Sep 2013 Dec 2013 Mar 2014 Jun 2014 Sep 2014 Dec 2014 Mar 2015 Jun 2015 Sep 2015 Dec 2015 Mar 2016 Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
other data                                                                        
Employees ...                                                         44,066 43,578 43,089 44,036 44,982    
Sight (As % Of Customer Deposits) % ...                                                         34.5 38.5 34.6 37.1 35.8    
On-balance Sheet Loans RMB mil ... ... ... ... ... ... ... ... ... ... ... ... ...                                 1,980,800 2,058,900 2,174,600 2,311,600 2,361,300    

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Everbright Bank's corporate loans rose 15.8% yoy to CNY 1,464,500 mil in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank's loans reached CNY 2,602,500 mil in the second quarter of 2019, up from CNY 2,509,700 mil when compared to the previous quarter and up from CNY 2,232,700 mil when compared to the same period of last year. Historically, the bankâ...

Everbright Bank's market capitalisation (end of period) fell 1.20% to USD 25,606 mil in 2Q2019

By Helgi Library - October 23, 2019

China Everbright Bank stock traded at JPY 1,645 per share at the end of second quarter of 2019 implying a market capitalization of USD 3,477 mil. Over the last five years, the stock has depreciated by 36.4 implying an annual average growth of -8.65% In ab...

Everbright Bank's market capitalisation (end of period) fell 1.20% to USD 25,606 mil in 2Q2019

By Helgi Library - October 23, 2019

China Everbright Bank stock traded at JPY 1,645 per share at the end of second quarter of 2019 implying a market capitalization of USD 3,477 mil. Over the last five years, the stock has depreciated by 36.4 implying an annual average growth of -8.65% In ab...

Everbright Bank's net interest income rose 35.2% yoy to CNY 24,950 mil in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank generated total banking revenues of CNY 32,467 mil in the second quarter of 2019, up 15.5% when compared to the same period of last year and down 5.93% when compared to the previous quarter. Historically, the bank’s revenues ...

Everbright Bank's net interest income rose 35.2% yoy to CNY 24,950 mil in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank generated total banking revenues of CNY 32,467 mil in the second quarter of 2019, up 15.5% when compared to the same period of last year and down 5.93% when compared to the previous quarter. Historically, the bank’s revenues ...

Everbright Bank's customer deposits fell 1.27% yoy to CNY 2,120,900 mil in 4Q2016

By Helgi Library - October 11, 2019

China Everbright Bank's customer deposits reached CNY 2,120,900 mil in 2016-12-31, down 0.516% compared to the previous year. Chinese banking sector accepted customer deposits of CNY 71,030 bil in 2016-12-31, up 6.68% when compared to the last year. China...

Everbright Bank's customer deposits fell 1.27% yoy to CNY 2,120,900 mil in 4Q2016

By Helgi Library - October 11, 2019

China Everbright Bank's customer deposits reached CNY 2,120,900 mil in 2016-12-31, down 0.516% compared to the previous year. Chinese banking sector accepted customer deposits of CNY 71,030 bil in 2016-12-31, up 6.68% when compared to the last year. China...

Everbright Bank's net interest margin rose 24.5% yoy to 2.18% in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank's net interest margin amounted to 2.18% in the second quarter of 2019, down from 2.18% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.60% in 1Q2012 and an all time low o...

Everbright Bank's net interest margin rose 24.5% yoy to 2.18% in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank's net interest margin amounted to 2.18% in the second quarter of 2019, down from 2.18% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.60% in 1Q2012 and an all time low o...

Everbright Bank's price/earnings (P/E) fell 9.47% yoy to 6.31 in 2Q2019

By Helgi Library - October 11, 2019

China Everbright Bank stock traded at HKD 3.21 per share at the end second quarter of 2019 implying a market capitalization of USD 25,606 mil. Since the end of 2Q2014, the stock has appreciated by 29.7 % implying an annual average growth of 5.33 %. In absolute terms, ...

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Finance

China Everbright Bank has been growing its revenues and asset by 16.1% and 17.7% a year on average in the last 10 years. Its loans and deposits have grown by 18.0% and 15.7% a year during that time and loans to deposits ratio reached 91.5% at the end of 2018. The company achieved an average return on equity of 16.8% in the last decade with net profit growing 16.5% a year on average. In terms of operating efficiency, its cost to income ratio reached 29.8% in 2018, compared to 37.5% average in the last decade.

Equity represented 7.40% of total assets or 13.7% of loans at the end of 2018. China Everbright Bank's non-performing loans were 1.61% of total loans while provisions covered some 154% of NPLs at the end of 2018.

Valuation

China Everbright Bank stock traded at HKD 3.70 per share at the end of 2018 resulting in a market capitalization of USD 24,803 mil. Over the previous five years, stock price rose by 22.1% or 4.07% a year on average. That’s compared to an average ROE of 13.4% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 6.57x and price to book value (PBV) of 0.685x in 2018.