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Huaxia Bank

Huaxia's capital adequacy ratio rose 17.9% yoy to 14.1% in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank's capital adequacy ratio reached 14.1% at the end of second quarter of 2019, up from 12.8% when compared to the previ...

Huaxia's capital adequacy ratio rose 17.9% yoy to 14.1% in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank's capital adequacy ratio reached 14.1% at the end of second quarter of 2019, up from 12.8% when compared to the previ...

Huaxia's net interest income rose 35.2% yoy to CNY 16,255 mil in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank generated total banking revenues of CNY 20,813 mil in the second quarter of 2019, up 18.5% when compared to the same ...

Profit Statement Dec 2018 Mar 2019 Jun 2019
Net Interest Income CNY mil 14,512 13,091 16,255
Net Fee Income CNY mil 4,727 6,012 4,123
Other Income CNY mil 2,538 1,088 435
Total Revenues CNY mil 21,777 20,191 20,813
Operating Profit CNY mil 15,380 15,738 13,882
Net Profit CNY mil 6,341 4,604 5,939
Balance Sheet Dec 2018 Mar 2019 Jun 2019
Interbank Loans CNY mil 64,257 58,035 159,755
Customer Loans CNY mil 1,566,240 1,669,380 1,737,290
Total Assets CNY mil 2,680,580 2,793,620 3,022,690
Shareholders' Equity CNY mil 218,715 214,746 258,180
Interbank Borrowing CNY mil 793,594 550,282 922,353
Customer Deposits CNY mil 1,488,980 1,608,030 1,675,870
Issued Debt Securities CNY mil 122,500 384,723 112,000
Ratios Dec 2018 Mar 2019 Jun 2019
ROE % 12.6 8.50 10.0
ROA % 0.958 0.673 0.817
Costs (As % Of Assets) % 0.967 0.651 0.953
Costs (As % Of Income) % 29.4 22.1 33.3
Capital Adequacy Ratio % 13.2 12.8 14.1
Net Interest Margin % 2.19 1.91 2.24
Loans (As % Of Deposits) % 105 104 104
NPLs (As % Of Loans) % 2.09 2.12 2.15
Provisions (As % Of NPLs) % 140 125 111
Valuation Dec 2018 Mar 2019 Jun 2019
Price/Earnings (P/E) 5.17 7.10 6.31
Price/Book Value (P/BV) 0.493 0.692 0.522
Dividend Yield % 0 0 0
Earnings Per Share (EPS) CNY 1.63 1.36 1.39
Book Value Per Share CNY 17.1 14.0 16.8
Dividend Per Share CNY 0 0 0

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summary Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 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 ... ...                                                               11,493 11,863 12,023 13,140 14,512    
Total Revenues CNY mil ... ...                                                               16,477 16,462 17,561 18,382 21,777    
Operating Profit CNY mil ... ...                                                               12,156 11,113 11,222 12,060 15,380    
Net Profit CNY mil ... ...                                                               5,592 4,549 5,486 4,478 6,341    
balance sheet                                                                                
Interbank Loans CNY mil                                                                   112,289 90,763 82,534 69,427 64,257    
Customer Loans CNY mil                                                                   1,355,580 1,444,080 1,494,480 1,532,300 1,566,240    
Debt Securities CNY mil                                                                   765,326 712,730 718,980 749,098 787,021    
Total Assets CNY mil                                                                   2,508,930 2,544,080 2,567,220 2,612,990 2,680,580    
Shareholders' Equity CNY mil                                                                   169,498 173,726 177,672 182,454 218,715    
Interbank Borrowing CNY mil                                                                   750,111 499,685 752,450 524,868 793,594    
Customer Deposits CNY mil                                                                   1,428,860 1,468,260 1,457,840 1,492,380 1,488,980    
Issued Debt Securities CNY mil                                                                   102,000 351,771 120,000 359,248 122,500    
ratios                                                                                
ROE % ... ...                                                               13.4 10.6 12.5 9.95 12.6    
ROA % ... ...                                                               0.903 0.720 0.859 0.692 0.958    
Costs (As % Of Assets) % ... ...                                                               0.698 0.847 0.992 0.976 0.967    
Costs (As % Of Income) % ... ...                                                               26.2 32.5 36.1 34.4 29.4    
Capital Adequacy Ratio % ... ... ...                                                             12.4 12.2 12.0 11.8 13.2    
Net Interest Margin % ... ...                                                               1.86 1.88 1.88 2.03 2.19    
Interest Income (As % Of Revenues) % ... ...                                                               69.8 72.1 68.5 71.5 66.6    
Fee Income (As % Of Revenues) % ... ...                                                               28.0 24.9 27.0 22.8 21.7    
Equity (As % Of Assets) %                                                                   6.76 6.83 6.92 6.98 8.16    
Loans (As % Of Deposits) %                                                                   94.9 98.4 103 103 105    
Loans (As % Assets) %                                                                   54.0 56.8 58.2 58.6 58.4    
NPLs (As % Of Loans) % ...                                                                 1.96 1.96 1.97 2.03 2.09    
Provisions (As % Of NPLs) % ...                                                                 141 142 143 141 140    
valuation                                                                                
Market Capitalisation (End Of Period) USD mil ... ...                                                               17,727 18,164 14,430 15,250 13,773    
Number Of Shares (Average) mil ... ...                                                               12,823 12,823 12,823 12,823 12,823    
Share Price (End Of Period) CNY ... ...                                                               9.00 8.91 7.45 8.17 7.39    
Earnings Per Share (EPS) CNY ... ...                                                               1.55 1.55 1.56 1.57 1.63    
Book Value Per Share CNY ... ...                                                               13.2 13.5 13.9 14.2 17.1    
Dividend Per Share CNY ... ...                                                               0 0 0 0 0    
Price/Earnings (P/E) ... ...                                                               6.99 7.18 5.66 5.94 5.17    
Price/Book Value (P/BV) ... ...                                                               0.817 0.821 0.638 0.654 0.493    
Dividend Yield % ... ...                                                               0 0 0 0 0    
Earnings Per Share Growth % ... ... ... ... ... ...                                                       0.723 0.630 1.68 4.24 5.22    
Book Value Per Share Growth % ... ... ... ... ... ...                                                       10.8 11.1 11.3 11.3 29.0    
income statement Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 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 ... ...                                                               26,096 27,801 28,439 29,600 30,196    
Interest Cost CNY mil ... ...                                                               14,603 15,938 16,416 16,460 15,684    
Net Interest Income CNY mil ... ...                                                               11,493 11,863 12,023 13,140 14,512    
Net Fee Income CNY mil ... ...                                                               4,618 4,104 4,734 4,193 4,727    
Other Income CNY mil ... ...                                                               366 495 804 1,049 2,538    
Total Revenues CNY mil ... ...                                                               16,477 16,462 17,561 18,382 21,777    
Operating Cost CNY mil ... ...                                                               4,321 5,349 6,339 6,322 6,397    
Operating Profit CNY mil ... ...                                                               12,156 11,113 11,222 12,060 15,380    
Pre-Tax Profit CNY mil ... ...                                                               7,146 6,065 7,139 5,995 7,584    
Tax CNY mil ... ...                                                               1,540 1,480 1,613 1,484 1,220    
Minorities CNY mil ... ...                                                               14.0 36.0 40.0 33.0 23.0    
Net Profit CNY mil ... ...                                                               5,592 4,549 5,486 4,478 6,341    
growth rates                                                                                
Net Interest Income Growth % ... ... ... ... ... ...                                                       -7.61 -4.68 4.02 11.1 26.3    
Net Fee Income Growth % ... ... ... ... ... ...                                                       18.8 11.9 -11.6 -12.1 2.36    
Total Revenue Growth % ... ... ... ... ... ...                                                       -2.68 -1.67 3.23 6.86 32.2    
Operating Cost Growth % ... ... ... ... ... ...                                                       -25.9 -9.11 4.23 -0.909 48.0    
Operating Profit Growth % ... ... ... ... ... ...                                                       9.54 2.37 2.67 11.4 26.5    
Pre-Tax Profit Growth % ... ... ... ... ... ...                                                       7.31 0.099 0.239 1.16 6.13    
Net Profit Growth % ... ... ... ... ... ...                                                       10.5 1.11 2.79 1.98 13.4    
balance sheet Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 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                                                                   225,837 236,504 215,845 204,475 210,204    
Interbank Loans CNY mil                                                                   112,289 90,763 82,534 69,427 64,257    
Customer Loans CNY mil                                                                   1,355,580 1,444,080 1,494,480 1,532,300 1,566,240    
Retail Loans CNY mil ...                                                                 323,147 347,702 372,256 402,058 431,860    
Mortgage Loans CNY mil ...                                                                 150,353 158,374 166,395 172,018 177,642    
Consumer Loans CNY mil ...                                                                 172,794 189,328 205,861 230,040 254,218    
Corporate Loans CNY mil ...                                                                 1,070,940 1,118,140 1,165,340 1,173,500 1,181,660    
Debt Securities CNY mil                                                                   765,326 712,730 718,980 749,098 787,021    
Fixed Assets CNY mil                                                                   12,864 13,154 13,591 13,423 13,582    
Total Assets CNY mil                                                                   2,508,930 2,544,080 2,567,220 2,612,990 2,680,580    
Shareholders' Equity CNY mil                                                                   169,498 173,726 177,672 182,454 218,715    
Of Which Minority Interest CNY mil                                                                   1,443 1,478 1,519 1,550 1,574    
Liabilities CNY mil                                                                   2,339,430 2,370,350 2,389,550 2,430,540 2,461,860    
Interbank Borrowing CNY mil                                                                   750,111 499,685 752,450 524,868 793,594    
Customer Deposits CNY mil                                                                   1,428,860 1,468,260 1,457,840 1,492,380 1,488,980    
Sight Deposits CNY mil ...                                                                 740,872 726,182 711,492 716,512 721,532    
Term Deposits CNY mil ...                                                                 687,990 742,083 746,353 775,871 767,446    
Issued Debt Securities CNY mil                                                                   102,000 351,771 120,000 359,248 122,500    
Other Liabilities CNY mil                                                                   58,456 50,633 59,252 54,038 56,793    
asset quality                                                                                
Non-Performing Loans CNY mil ...                                                                 27,286 28,766 30,246 31,948 33,649    
Gross Loans CNY mil ...                                                                 1,394,080 1,465,840 1,537,590 1,575,550 1,613,520    
Total Provisions CNY mil ...                                                                 38,497 40,806 43,114 45,195 47,275    
growth rates                                                                                
Customer Loan Growth % ... ... ... ...                                                           14.5 18.2 17.2 16.6 15.5    
Retail Loan Growth % ... ... ... ... ...                                                         31.5 31.9 32.3 33.0 33.6    
Mortgage Loan Growth % ... ... ... ... ...                                                         21.4 21.6 21.7 19.9 18.2    
Consumer Loan Growth % ... ... ... ... ...                                                         41.8 42.0 42.2 44.9 47.1    
Corporate Loan Growth % ... ... ... ... ...                                                         10.3 11.9 13.3 11.8 10.3    
Total Asset Growth % ... ... ... ...                                                           6.48 6.05 5.95 6.84 6.84    
Shareholders' Equity Growth % ... ... ... ...                                                           10.8 11.1 11.3 11.3 29.0    
Customer Deposit Growth % ... ... ... ...                                                           4.67 5.36 6.24 5.45 4.21    
market share                                                                                
Market Share in Customer Loans %                                                                   1.05 1.08 1.09 1.08 1.08   ...
Market Share in Total Assets % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 ... ... ... ... ... ... ... ... ... ...
Market Share in Customer Deposits % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                 ... ... ... ... ... ... ... ... ... ...
ratios Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 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 % ... ...                                                               13.4 10.6 12.5 9.95 12.6    
ROA % ... ...                                                               0.903 0.720 0.859 0.692 0.958    
Costs (As % Of Assets) % ... ...                                                               0.698 0.847 0.992 0.976 0.967    
Costs (As % Of Income) % ... ...                                                               26.2 32.5 36.1 34.4 29.4    
Capital Adequacy Ratio % ... ... ...                                                             12.4 12.2 12.0 11.8 13.2    
Tier 1 Ratio % ... ... ...                                                             9.37 9.26 9.09 9.00 10.4    
Net Interest Margin % ... ...                                                               1.86 1.88 1.88 2.03 2.19    
Interest Spread % ... ...                                                               1.69 1.69 1.69 1.84 2.00    
Asset Yield % ... ...                                                               4.21 4.40 4.45 4.57 4.56    
Cost Of Liabilities % ... ...                                                               2.53 2.71 2.76 2.73 2.56    
Payout Ratio % ... ...                                                               0 0 0 0 0    
Interest Income (As % Of Revenues) % ... ...                                                               69.8 72.1 68.5 71.5 66.6    
Fee Income (As % Of Revenues) % ... ...                                                               28.0 24.9 27.0 22.8 21.7    
Other Income (As % Of Revenues) % ... ...                                                               2.22 3.01 4.58 5.71 11.7    
Equity (As % Of Assets) %                                                                   6.76 6.83 6.92 6.98 8.16    
Loans (As % Of Deposits) %                                                                   94.9 98.4 103 103 105    
Loans (As % Assets) %                                                                   54.0 56.8 58.2 58.6 58.4    
NPLs (As % Of Loans) % ...                                                                 1.96 1.96 1.97 2.03 2.09    
Provisions (As % Of NPLs) % ...                                                                 141 142 143 141 140    
Provisions (As % Of Loans) % ...                                                                 2.84 2.83 2.88 2.95 3.02    
other data Unit Sep 2009 Dec 2009 Mar 2010 Jun 2010 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 ... ... ... ... ...                                                         42,644 42,757 42,870 42,077 41,283 ... ...
Sight (As % Of Customer Deposits) % ...                                                                 51.9 49.5 48.8 48.0 48.5    
On-balance Sheet Loans RMB mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...                                 1,355,580 1,444,080 1,494,480 1,532,300 1,566,240    

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Huaxia's net interest income rose 35.2% yoy to CNY 16,255 mil in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank generated total banking revenues of CNY 20,813 mil in the second quarter of 2019, up 18.5% when compared to the same period of last year and 3.08% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

Huaxia's corporate loans rose 5.43% yoy to CNY 1,228,640 mil in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank's loans reached CNY 1,779,800 mil in the second quarter of 2019, up from CNY 1,696,660 mil when compared to the previous quarter and up from CNY 1,537,590 mil when compared to the same period of last year. Historically, the bank’s loans ...

Huaxia's corporate loans rose 5.43% yoy to CNY 1,228,640 mil in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank's loans reached CNY 1,779,800 mil in the second quarter of 2019, up from CNY 1,696,660 mil when compared to the previous quarter and up from CNY 1,537,590 mil when compared to the same period of last year. Historically, the bank’s loans ...

Huaxia's price/earnings (P/E) rose 11.4% yoy to 6.31 in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank stock traded at CNY 7.70 per share at the end second quarter of 2019 implying a market capitalization of USD 17,246 mil. Since the end of 2Q2014, the stock has appreciated by 35.2 % implying an annual average growth of 6.22 %. In absolute terms, the value ...

Huaxia's price/earnings (P/E) rose 11.4% yoy to 6.31 in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank stock traded at CNY 7.70 per share at the end second quarter of 2019 implying a market capitalization of USD 17,246 mil. Since the end of 2Q2014, the stock has appreciated by 35.2 % implying an annual average growth of 6.22 %. In absolute terms, the value ...

Huaxia's net interest margin rose 18.8% yoy to 2.24% in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank's net interest margin amounted to 2.24% in the second quarter of 2019, up from 1.91% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.88% in 3Q2011 and an all time low of 1.86%...

Huaxia's net interest margin rose 18.8% yoy to 2.24% in 2Q2019

By Helgi Library - October 11, 2019

Huaxia Bank's net interest margin amounted to 2.24% in the second quarter of 2019, up from 1.91% when compared to the previous quarter. Historically, the bank’s net interest margin reached an all time high of 2.88% in 3Q2011 and an all time low of 1.86%...

Huaxia's customer deposits rose 1.21% yoy to CNY 1,365,090 mil in 4Q2016

By Helgi Library - October 11, 2019

Huaxia Bank's customer deposits reached CNY 1,365,090 mil in 2016-12-31, down 0.464% 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. Huaxia Bank acc...

Huaxia's customer deposits rose 1.21% yoy to CNY 1,365,090 mil in 4Q2016

By Helgi Library - October 11, 2019

Huaxia Bank's customer deposits reached CNY 1,365,090 mil in 2016-12-31, down 0.464% 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. Huaxia Bank acc...

Huaxia's market capitalisation (end of period) fell 8.84% to USD 17,246 mil in 2Q2019

By Helgi Library - October 23, 2019

Huaxia 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 absolute ter...

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Finance

Huaxia Bank has been growing its revenues and asset by 15.3% and 13.9% a year on average in the last 10 years. Its loans and deposits have grown by 16.3% and 11.9% a year during that time and loans to deposits ratio reached 105% at the end of 2018. The company achieved an average return on equity of 16.1% in the last decade with net profit growing 21.1% a year on average. In terms of operating efficiency, its cost to income ratio reached 86.9% in 2018, compared to 83.9% average in the last decade.

Equity represented 8.16% of total assets or 14.0% of loans at the end of 2018. Huaxia Bank's non-performing loans were 2.09% of total loans while provisions covered some 140% of NPLs at the end of 2018.

Valuation

Huaxia Bank stock traded at CNY 7.39 per share at the end of 2018 resulting in a market capitalization of USD 13,773 mil. Over the previous five years, stock price rose by 24.2% or 4.43% a year on average. That’s compared to an average ROE of 14.8% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 5.17x and price to book value (PBV) of 0.493x in 2018.