Set aside a big drop 55% deep development net profit Year-on-year "Push High" 31%

China's peaceful integration of its banking platform, the deep development of the achievements of the attention. August 24 Night, the deep development announced the results of the report, net profit rose 31% to 3 billion yuan. In terms of operating profit before the provision, the growth rate is 6.79%.　　Earnings per share of 0.98 yuan, an increase of 31%. Some brokers said that the reduction in reserve is the main reason for the growth of deep development profits.　　During the reporting period, the company's asset impairment was reduced by 55.26% per cent, and management responded, which resulted from the continued good stability of asset quality. At the same time, will be integrated with the deep development of Ping An bank also achieved better performance in the first half, to achieve net profit of 900 million yuan, the year-on-year increase of 56%. China's Ping An management said that the completion of strategic investment in deep development is only the beginning, how to make Ping an bank and deep development of the two banks complement each other, give full play to the synergy of integrated finance is the key to create value.　　In the future, Ping an group will vigorously promote the restructuring and integration of Ping An bank and deep development.　　NET spreads fall 5 basis points throughout the deep development of the six-year report card, net interest income increase accounted for the bulk of the overall income, asset-bearing assets increased 19% year-on-year, intermediary business income to obtain an explosive growth.　　At the end of June, the total assets of the bank increased by 6% to 624.4 billion yuan from the end of last year, the total amount of general loans (excluding discounting) increased by 12% to 353.3 billion yuan, and total deposits increased by 11% to 506 billion yuan. The benefit scale grows, the deep development interest net income increases 16% to reach 7.409 billion yuan.　　Over the same period, the fees and commissions net income increased substantially by 57% to 750 million yuan Year-on-year. But the poor performance of the net spreads has dragged down interest income. In the first 6 months, the net interest margin for deep development was 2.46%, a 5 basis point lower than the same period a year earlier. But it has rebounded compared with the first quarter.　　In the first quarter, net spreads rose by 2.42% to 2.5% in the two quarter.　　Six months reported that the 2008 interest rate cut and the impact of individual mortgage rates on the policy-adjusted impact in the first half of 2009 is still in the early years of release, its lagging effect is mainly reflected in the second half of 2009. In addition, the bank updated the bill discounting system in May 2009, in the new system, when the discount bill is transferred out, the difference between the discounted discount interest income and the discounted cost is taken as the price difference income accounting, and the old system as the profit margin accounting, the change accounting more accurately reflects the business essence.　　After excluding this factor, the net interest margin and netting gap in the first half of 2010 were flat compared with the first half of 2009. The securities dealers said that the deep development of net interest margin is not high because of the high cost of payment. In the two quarter, its range is very strong. Earnings data show that the late June deep development savings deposit is twice times the current deposit, up to 48.536 billion yuan. At the end of the quarter, the total amount of deep development deposits amounted to $467.6 billion, which grew by only 2.9%.　　Among them, the company's deposit balance of 396.8 billion yuan, increased by 3.4%, retail deposit balance of 70.8 billion yuan, the negative growth of 0.26% at the beginning of the year.In addition, the yield of deep development loans is lower than that of peers, and also restricts the growth rate of interest income.　　At the end of June, the average interest rate for loans was only 5.07%. Deep development seeks to change the structure of loans. Retail, the bank's initiative to reduce the proportion of home mortgage loans, in the end of June, its loans accounted for a 4% decline in the beginning of the year, the self-employed loans and other non-housing mortgage loans accounted for 40% of the end of June.　　The first half of its car loan business growth soon, within six months of new car consumption loans 3.7 billion yuan, the same period last year, a growth of 1.5 billion yuan, an increase of 70%, accounting for the earlier rise of 0.8%. The company's business, the bank in June 2009 set up a small and medium-sized Enterprise Finance Division, the first half of 2010 SME renminbi loans accounted for a rapid increase in the proportion of corporate loans to 58.56%, the loan balance reached 128.2 billion yuan, compared with the beginning of the year 14.　　Since its opening in November 2009, as of June 30 this year, the number of SME franchisees 703 households, has accumulated a loan of 3.1 billion yuan, the loan balance of 3 billion yuan, the average lending rate on the benchmark floating 14.93%.　　The Year-on-year drop of 55% is accompanied by a steady increase in net interest income, the other end of the overall profit growth--asset impairment preparation has fallen sharply. In January-June this year, the reserve for deep development assets was reduced to $494 million, while in the first half of last year, its asset impairment was prepared at $1.104 billion.　　Management said that the first half of the year to reduce the 55% reason is the first half of the credit assets of good quality and clear the ideal. As at June 30, the bank's non-performing loan balance was $2.292 billion, which was reduced by 152 million yuan at the end of last year. The non-performing loan ratio was 0.61%, down 7 points from the end of last year.　　Over the same period, the bank cleared up the total amount of non-performing assets (including not write-off of non-performing assets and write-off assets) 1.679 billion yuan, of which, the recovery of the principal 1.458 billion yuan. For real estate loans, deep Development said, its mortgage business has been prudent credit policy, strict restrictions, as at the end of June, the bank's real estate development loan balance of 14.1 billion yuan, accounting for the total loan balance of 3.76%, of which non-performing balance of 191 million yuan, non-performing rate of 1.36%,　　And the real estate development loan issued since 2005 is not bad. On the government financing platform loan, at the end of June, the bank's loan balance was about 58.7 billion yuan, which accounted for 16% of all the loans in the bank. Such loans are mainly concentrated in the Yangtze River Delta and the Bohai Sea region, mainly to the municipal level (including the city, provincial and national) government financing platform, mainly to urban investment and construction companies and transport-type government financing platform.　　By the end of the reporting period, all government financing platform loans had not been overdue or bad. Asset impairment is less than the preparation of the year, but the chain look, the amount of the sum is equal. In the last 12 months, the total amount of the deep development was reduced to $1.575 billion and 471 million in the second half. "In the first half of last year, a lot of profits were reduced to the margin, resulting in a smaller profit base.Only a small increase in profit before the reserve, the full year of profits to be seen in the second half. Sangjun, analyst at the Securities and banking industry in China.