Promote stability with advancement, move forward with quality improvement, and write a new chapter of high-quality development? Bank of Communications releases 2023 annual results
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In 2023, Bank of Communications will insist on promoting its own high-quality development while serving Chinese-style modernization. The scale will grow steadily, the operation will maintain resilience, the asset quality will be consolidated, the brand image will be improved, and the operating performance will maintain and consolidate the “making progress while maintaining stability and improving quality while maintaining stability” “Good situation.
At the end of the reporting period, the group’s total assets reached14.06 trillion yuan, an increase of 8.23% from the end of the previous year. During the reporting period, the group achieved net profit (attributable to shareholders of the parent company) of 92.728 billion yuan and operating income of 257.595 billion yuan, both achieving positive year-on-year growth. The Tier 1 capital ranking advanced to 9th in the “Top 1000 Global Banks” of the British “Banker” magazine, and was selected as a global systemically important bank for the first time.
Make every effort to create business characteristics Strengthen services“The Great One” Financial Responsibility
Firmly play the role of the main force, make precise efforts around major strategies, key areas and weak links, continue to highlight strategic features in serving the real economy, promote the increase in total financial supply and optimize the structure, and do a good job in“Five big articles” lay a good foundation. At the end of the reporting period, the group’s customer loan balance reached 7.96 trillion yuan, an increase of 9.08% from the end of the previous year.
Annual report shows, In terms of inclusive finance,We will increase financial support for small and micro enterprises and rural revitalization, serve promotional fees to expand domestic demand, and steadily improve the quality and efficiency of inclusive financial business development.At the end of the reporting period, the balance of inclusive small and micro enterprises and agriculture-related loans increased respectively compared with the end of the previous year.29.38% and 24.80%, an increase of 159.99% and 54.94% from the end of 2020; the balance of personal consumption loans was 158.117 billion yuan, an increase of 86.25% from the end of the previous year, and the increase reached a record high.
In terms of trade finance,Actively serve the development of industrial and supply chains and high-level opening up, and further enhance the ability of trade finance to serve the real economy and the new dual-circulation development pattern.The annual trade financing amount, industrial chain financial business volume, and cross-border RMB receipts and payments respectively reached2.4x, 2x and 2.5x in 2020.
In terms of technology and finance,Keep up with the pace of national science and technology self-reliance and industrial transformation and upgrading, and guide financial resources to gather in original and leading scientific and technological research areas. At the end of the reporting period, strategic emerging industry loans,The growth rates of “specialized, specialized and innovative” small and medium-sized enterprise loans and technology-based small and medium-sized enterprise loans were 31.12%, 73.95% and 39.54% respectively; the number of technology finance credit customers increased by 41.20% compared with the end of the previous year.
In terms of wealth and finance,We will practice finance for the people and build a full-chain wealth management operation system to better meet customers’ multi-level wealth management needs.At the end of the reporting period, personal financial assets managed by domestic banking institutions increased compared with the end of the previous year.8.23%, an increase of 28.21% from the end of 2020; the balance of the group’s financial management products increased by 7.91% from the end of the previous year, an increase of 19.06% from the end of 2020.
In terms of green finance,Integrate the concept of green development into the entire process of creating business characteristics, and continue to increase efforts to serve green and low-carbon transformation.At the end of the reporting period, the balance of green loans increased compared with the end of the previous year.29.37%, an increase of 126% from the end of 2020, and the balance of green bond investments increased by 68.66% from the end of the previous year.
Focus on innovation-driven Promote accelerated transformation of business quality
Stimulate operational vitality with innovation, enhance development momentum with technology, achieve new breakthroughs in areas such as building the core driving force of digital finance and empowering the quality and efficiency of operation and management, and deeply integrate into the overall development of Digital China.
Strengthen the innovation source function of Shanghai’s home stadium.Deeply integrated into ShanghaiThe construction of “Five Centers” continues to build the Shanghai home stadium into a model room for the innovation source of “Five Big Articles”. Focusing on areas such as credit medical treatment, science and technology finance, transportation, consumption, and elderly care, we will form a number of demonstration results that are led by home innovation and transformed and promoted throughout the bank, driving innovative businesses to take root throughout the bank. At the end of the reporting period, the cooperation coverage rate of major projects at the urban and municipal levels serving Shanghai’s economic and social development increased by 13.76 percentage points compared with the end of the previous year.
The construction of digital SGX Bank is going in-depth.Focusing on retail first, we build a digital operating system, and promote the construction of enterprise-level architecture, business middle office and product factory in an integrated manner. The level of online, scenario-based and intelligent business has been significantly improved.Accelerate the layout of new digital infrastructure and advance it in depth“Strengthen the foundation, build the network, move to the cloud, and solidify the core.” We will build a “finance + technology + scenario” service model, deepen the construction of scenarios in the fields of medical care, industrial parks, state-owned enterprise treasuries, and inter-bank fund management, and use digital transformation to promote excellent services, improve efficiency, and enhance experience. During the reporting period, financial technology investment was 12.027 billion yuan, a year-on-year increase of 3.41%; it accounted for 5.64% of operating income, a year-on-year increase of 0.38 percentage points. At the end of the reporting period, the number of financial technology personnel reached 7,814, an increase of 33.30% from the end of the previous year, accounting for 8.29% of the group’s total employees, an increase of 1.91 percentage points from the end of the previous year.
Strengthen comprehensive risk management Be a ballast stone for maintaining financial stability
Adhere to risk prevention and control as an eternal theme, strengthen bottom-line thinking, solidly and steadily resolve existing risks, effectively prevent incremental risks, maintain the bottom line of no systemic risks, and escort high-quality development with high-level security.
Improve the group’s integrated risk management system.according toThe principle of “centralized operations, centralized management, unified management of similar categories, and comprehensive consolidation” promotes the effective implementation of unified risk management policies in domestic and overseas branches and subsidiaries.
Steadily promote risk prevention and resolution in key areas.We will continue to make good use of mechanisms such as group customer screening, establish special classes for real estate finance and local debt risk management, optimize credit card asset quality management and control methods, and systematically manage risks.“Prevent, transform and cure” combined boxing.
Effectively strengthen the management and control of various risks.Improve prevention and control mechanisms for liquidity risks, market risks, country risks, operational risks, climate risks, reputation risks, model risks, etc., and conduct solid stress tests and emergency drills to achieve smooth operations under complex situations.
At the end of the reporting period, the group’s non-performing loan ratio1.33%, a decrease of 0.02 percentage points from the end of the previous year; the provision coverage ratio was 195.21%, an increase of 14.53 percentage points from the end of the previous year. During the reporting period, a total of 64.7 billion yuan of non-performing loans were disposed of, of which 33.330 billion yuan was substantively recovered.
In 2024, the favorable conditions facing my country’s economic development are stronger than the unfavorable factors. The basic trend of economic recovery and long-term improvement has not changed. There is broad business space in policy implementation and structural adjustment. Bank of Communications will focus on the goal of building a financial power, with the theme of promoting high-quality development, deepening the financial supply-side structural reform as the main line, coordinating high-quality development and high-level security, and serving as the main force in serving the real economy and maintaining financial stability. We will work hard to accelerate the construction of a world-class banking group with unique advantages and make positive contributions to promoting Chinese-style modernization.
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