Financial Performance - The total assets of the company exceeded RMB 3 trillion, marking a significant milestone[5] - Revenue growth has been the highest among joint-stock banks for 10 consecutive quarters[5] - Net profit returned to double-digit growth, indicating strong financial performance[5] - The bank achieved a revenue growth rate that has been the highest among national joint-stock banks for 10 consecutive quarters[10] - Zhejiang Zheshang Bank reported operating income of CNY 63.764 billion, an increase of 4.27% year-on-year[19] - Net profit attributable to shareholders reached CNY 15.048 billion, growing by 10.50% compared to the previous year[19] - Total assets amounted to CNY 3.14 trillion, reflecting a year-on-year growth of 19.91%[19] - The average return on equity for 2023 was 9.42%, an increase from 9.02% in 2022[38] - The bank's total liabilities reached RMB 2,954,302 million, up from RMB 2,456,000 million in 2022[38] - The total equity attributable to shareholders was RMB 186.245 billion, an increase of 14.31% from the previous year[81] Asset Quality - The non-performing loan ratio and provision coverage ratio have shown a trend of "one decrease and one increase" for two consecutive years[5] - The non-performing loan ratio decreased to 1.44%, with a provision coverage ratio of 182.60%, indicating improved asset quality[10] - The non-performing loan ratio stood at 1.44%, with a provision coverage ratio of 182.60%[19] - The non-performing loan ratio improved slightly to 1.44% in 2023 from 1.47% in 2022[38] - The non-performing loan ratio for 2023 was reported at 1.44%, while the provision coverage ratio stood at 182.60%[37] Strategic Focus - 56% of the annual credit increment was directed towards small and diversified assets, highlighting a strategic focus on risk management[6] - The bank's new financial strategies focus on digitalization and scenario-based financial services, aiming for comprehensive development[11] - The bank plans to deepen investments in small, dispersed assets and weak-cycle industries to ensure stable long-term growth[10] - The company aims to leverage its comprehensive operational advantages to promote internationalization and high-quality development in 2024, marking its 20th anniversary[13] - The company aims to establish a customer base that provides stable and sustainable income, focusing on small, medium, and micro clients[27] Revenue Composition - Non-interest income contributed over 80% of the revenue growth, showcasing the effectiveness of the company's diversified income strategy[6] - The revenue from economically weak sensitive assets accounted for over 33%, an increase of nearly 9 percentage points[10] - The revenue from economically cycle-insensitive assets reached CNY 20.285 billion, accounting for 33.02% of the total revenue[26] - The total amount of loans and advances was CNY 17.2 trillion, up 12.54% from the end of the previous year[19] - The non-interest income reached RMB 16.236 billion, an increase of RMB 2.146 billion or 15.23% year-on-year[46] Digital Transformation - The bank aims to implement a digital transformation strategy and develop five major business segments: retail, corporate, investment banking, asset management, and cross-border services[22][24] - The company focused on enhancing customer engagement through digital channels, contributing to the growth in deposit and loan balances[57] - The company has strengthened its digital infrastructure and technology innovation, advancing digital transformation initiatives[126] - The company established a digital operation demonstration point in collaboration with Huawei to promote technological application innovation[151] - The company's digital transformation efforts have led to improved operational efficiency and enhanced security measures[148] Risk Management - The company maintains a prudent and stable risk preference, focusing on small and diversified credit principles to support the real economy[100] - The company emphasizes a comprehensive risk management framework, with the board responsible for overall risk management and the senior management executing it through various committees[101] - Credit risk management aims to control credit risk within acceptable limits, maximizing comprehensive benefits measured in local currency[102] - The company continuously adjusts credit policies based on external and internal economic conditions, focusing on "weak sensitivity assets" to enhance competitiveness in key regions[103] - The company has established a comprehensive market risk management system, utilizing methods such as duration analysis and Value at Risk (VaR) measurement to control market risk[110] Corporate Governance - The company is committed to improving its governance quality by integrating party leadership into its governance processes[170] - The board consists of 14 members, including 4 executive directors, 5 non-executive directors, and 5 independent non-executive directors, ensuring compliance with Hong Kong Listing Rules[173] - The board's diversity policy emphasizes gender, age, cultural background, professional experience, and educational qualifications, with 2 female directors and 12 holding postgraduate degrees[174] - The board is responsible for risk management and internal control systems, with annual reviews to ensure effectiveness[175] - The company has established mechanisms to ensure independent opinions are heard, including annual assessments of independent directors' independence[176] Customer Engagement - The total number of retail customers reached 26.78 million, an increase of 34.26% compared to the beginning of the year[128] - The balance of personal deposits amounted to 269.52 billion yuan, reflecting a growth of 26.24% year-to-date, with an average interest rate of 2.47%, down 7 basis points from the beginning of the year[128] - The company has focused on enhancing customer value through a tiered retail customer management system, achieving recognition in the retail banking sector[128] - The company has actively expanded its personal customer base, optimizing the structure of personal deposits to lower funding costs[128] - The number of personal online banking certificate customers increased to 1.7141 million, a growth of 4.22% compared to the beginning of the year[155] Awards and Recognition - The company received multiple awards, including ranking 87th in the "2023 Global Bank 1000" and maintaining a dual "investment grade" rating from S&P and Moody's[34] - The company received 72 honors, including awards for digital reform applications and financial technology innovation[153] - The company’s new mixed wealth management product series won multiple awards, including the "Gold Award for Outstanding Mixed Bank Wealth Management Products"[145] - The company received multiple awards, including "Core Dealer in the Domestic Currency Market" and "Best RMB Foreign Exchange Attempt Market Maker" during the reporting period[140] - The company was recognized as an excellent practice case by the China Listed Companies Association for its board governance[170]

证券代码：601916 证券简称：浙商银行 公告编号：2024-017 第六届监事会第三十次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 浙商银行股份有限公司（以下简称"本公司"）第六届监事会第三十次会 议于2024年4月15日发出会议通知，以书面传签方式召开，表决截止日为2024年 4月21日。本次会议应出席监事8名，实际参与书面传签表决的监事共8名。本次 会议的召开符合法律、法规、部门规章、其他规范性文件和《浙商银行股份有 限公司章程》的有关规定。 会议审议通过了以下议案： 一、通过《浙商银行股份有限公司监事会对董事会及其成员2023年度履职 情况评价报告》。 表决结果：8票赞成，0票反对，0票弃权 本议案尚需向股东大会报告。 浙商银行股份有限公司 特此公告。 二、通过《浙商银行股份有限公司监事会及其成员2023年度履职情况评价 报告》。 2024 年 4 月 22 日 表决结果：8票赞成，0票反对，0票弃权 本议案尚需向股东大会报告。 1 三、通过《浙商银行股份有限公司监事会对高级管理层及其成员2023年 ...

证券代码：601916 证券简称：浙商银行 公告编号：2024-016 浙商银行股份有限公司 关于 2024 年二级资本债券发行完毕的公告 特此公告。 浙商银行股份有限公司董事会 2024 年 4 月 19 日 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 浙商银行股份有限公司（以下简称"本公司"）于 2022 年 11 月 21 日召开 的 2022 年第二次临时股东大会审议通过了《关于 2023-2025 年发行二级资本债 券的议案》。经国家金融监督管理总局和中国人民银行批准，本公司于 2024 年 4月17日在全国银行间债券市场发行总额为100亿元人民币的二级资本债券（以 下简称"本期债券"），并于 2024 年 4 月 19 日发行完毕。 本期债券发行规模为人民币 100 亿元，为 10 年期固定利率品种，在第 5 年 末附有前提条件的发行人赎回权，票面利率为 2.54%。 本期债券发行的募集资金将依据适用法律和主管部门的批准全部用于补充 本公司的二级资本，优化资本结构，促进业务稳健发展。 ...

Core Viewpoint - The banking industry is currently facing significant operational pressures, with challenges such as narrowing interest margins, intensified competition, and changing external environments being highlighted by various banks' management teams [1]. Group 1: Financial Performance - As of the end of 2023, Zheshang Bank's total assets exceeded 3 trillion yuan, reaching 3.14 trillion yuan, a year-on-year increase of 19.91% [2]. - The bank achieved an operating income of 63.704 billion yuan in 2023, up 4.29% from the previous year, and a net profit attributable to shareholders of 15.048 billion yuan, reflecting a growth of 10.50% year-on-year [2]. - Zheshang Bank is the only national joint-stock bank to report double-digit profit growth alongside revenue growth [2]. Group 2: Dividend Policy - The bank plans to distribute a cash dividend of 1.64 yuan per 10 shares, totaling 4.5 billion yuan (before tax), resulting in a dividend payout ratio of 31.98%, which is a decrease from the previous year's 37.79% [2]. - The bank's management expressed confidence in maintaining a dividend payout ratio above 30% annually in the future [3]. Group 3: Strategic Focus - Zheshang Bank has implemented a strategy focusing on "economically cyclical weak-sensitive assets," reducing the proportion of high-risk industry assets and shifting towards sustainable sectors [4]. - In 2023, the revenue from weak-sensitive assets accounted for over 33% of the bank's total revenue, an increase of nearly 9 percentage points since the strategy was introduced [4]. Group 4: Asset Quality and Risk Management - The bank completed its rectification of off-balance-sheet wealth management products ahead of schedule, with net value-based wealth management products accounting for 98.04% of its total wealth management balance by the end of 2023 [5]. - Zheshang Bank's non-performing loan (NPL) ratio was 1.44% at the end of 2023, a slight decrease of 0.03 percentage points from the previous year, while the provision coverage ratio increased to 182.60% [6].

每经记者 潘婷 每经编辑 马子卿 4月17日，浙商银行（SH601916，股价3.01元，市值826.7亿元）在深圳举办2023年度业绩发布会。浙商 银行管理层对2023年业绩表现进行解答。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 CHINA ZHESHANG BANK CO., LTD. 浙商銀行股份有限公司（「本行」）之董事會（「董事會」）謹此宣佈，本行將於 二零二四年四月二十九日（星期一）舉行董事會會議，其中議程包括審議及批准本 行及其附屬公司截至二零二四年三月三十一日止三個月之第一季度業績及其刊發。 承董事會命 浙商銀行股份有限公司 陸建強 董事長 中國，杭州 2024年4月17日 截至本公告日期，本行的執行董事為陸建強先生、張榮森先生、馬紅女士及陳海 強先生；非執行董事為侯興釧先生、任志祥先生、高勤紅女士、胡天高先生及朱 瑋明先生；獨立非執行董事為周志方先生、王國才先生、汪煒先生、許永斌先生 及傅廷美先生。 浙商銀行股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2016） 董事會召開日期 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2][5] Core Views - The company shows a strong performance with a double-digit profit growth, leading the industry. In 2023, revenue and net profit attributable to shareholders increased by 4.3% and 10.5% year-on-year, respectively [4][3] - The bank is actively expanding its balance sheet, with loans increasing by 12.6% year-on-year. New loans for the year totaled 191.2 billion, with contributions from corporate, retail, and bills at 74%, 31%, and -5% respectively [4][3] - The net interest margin is under pressure from the asset side, with a full-year net interest margin of 2.01%, down 20 basis points year-on-year. The loan yield decreased by 25 basis points year-on-year [4][3] - Asset quality remains stable, with a non-performing loan ratio at 1.44% at the end of 2023, down 1 basis point quarter-on-quarter. The provision coverage ratio remains stable at 183% [4][3] Summary by Sections Financial Performance - In 2023, the company achieved operating income of 637 billion, a year-on-year increase of 4.3%, and a net profit of 150 billion, up 10.5% year-on-year [3][4] - The net interest income increased by 1.0% year-on-year, while non-interest income saw a significant boost, particularly from investment-related gains [4][3] Loan Growth - The bank's loan growth is robust, with corporate loans growing at 14.3% and retail loans at 14.1%. The growth in retail loans is driven by mortgage and consumer loans, despite a decline in credit card loans [4][3] Asset Quality - The non-performing loan ratio is stable, with corporate non-performing loans decreasing to 1.37%. Retail non-performing loans slightly increased to 1.91%, attributed to rising risks in the post-pandemic environment [4][3] Capital Adequacy - As of the end of 2023, the core tier one, tier one, and total capital adequacy ratios were 8.22%, 9.52%, and 12.19%, respectively [4][3]

Investment Rating - The investment rating for the company is "Buy" with a target price of 3.45, down from the previous forecast of 4.16 [1][2]. Core Views - The report highlights that the company's asset expansion speed has improved, leading to strong profit growth. The total asset growth rate reached 19.9%, which is significantly higher than other listed banks. The profit release is positive, and the asset quality forward indicators are stable, maintaining a "Buy" rating [1][2]. Summary by Sections Financial Performance - The company's revenue and net profit growth rates for 2023 met expectations, with a net profit growth rate of 10.5%, which is higher than the average level of other listed banks by 14 percentage points [1][2]. - The annual loan balance increased by 12.4% year-on-year, maintaining a high expansion speed. The net interest margin for 2023 was 2.01%, a year-on-year decrease of 20 basis points, but still among the top in the industry [1][2]. Asset Quality - The core indicators of asset quality are stable, with a decrease in the non-performing loan ratio by 20 basis points compared to the end of Q3. The overdue rate and attention rate have also improved [1][2]. Earnings Forecast - The forecast for net profit growth for 2024-2026 is projected at 3.61%/6.57%/7.66%, with EPS estimates of 0.57 for 2024, down from the previous estimate of 0.60 [1][2]. Market Position - The company has a total market capitalization of 82,394 million, with a circulating share ratio of 100% [1][2]. The average daily trading volume is 144.28 million shares, indicating strong market activity [1][2].

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 [Table_industryInfo] 商业银行/金融 [ Table_Main[ITnafbol]e _Title] [评Tab级le_：Inv est] 增持 浙商银行(601916) 上次评级： 增持 扩表速度提升，利润增长强劲 目标价格： 3.45 公 上次预测： 4.16 ——浙商银行2023 年报业绩点评 司 当前价格： 3.00 更 刘源(分析师) 钟昌静(研究助理) 2024.04.09 新 021-38677818 010-83939787 [交Ta易bl数e_M据a rket] 报 liuyuan023804@gtjas.com zhongchangjing028678@gtjas.com 52周内股价区间（元） 2.47-3.42 告 证书编号 S0880521060001 S0880123070141 总市值（百万元） 82,394 总股本/流通A股（百万股） 27,465/21,544 本报告导读： 流通 B股/H股（百万股） 0/5,92 ...

证券代码：601916 证券简称：浙商银行 公告编号：2024-015 浙商银行股份有限公司 关于召开 2023 年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 香港业绩说明会： 境内业绩说明会： 浙商银行股份有限公司（以下简称"本公司"）已于 2024 年 3 月 28日分别 在上海证券交易所网站（ www.sse.com.cn ） 和 香 港 联交所披露易网站 （www.hkex.com.hk）披露本公司 2023 年度报告和 2023 年度业绩公告。为便于 1 召开时间：2024 年 4 月 11 日（星期四）16:00-17:30 召开地点：香港港岛香格里拉酒店 39 层天窗厅 召开方式：通过现场会议方式召开 召开时间：2024 年 4 月 11 日（星期四）16:00-17:30 召开时间：2024 年 4 月 17 日（星期三）15:30-17:30 召开方式：通过现场及网络直播方式召开，投资者可以登录全景网路演平 台观看本次业绩说明会。 网络直播地址：全景路演（https:/ ...