PSBC(01658)2025-03-27 14:16Financial Performance - Total assets reached RMB 17.08 trillion, an increase of 8.64% compared to the end of the previous year[32]. - Total customer loans amounted to RMB 8.91 trillion, reflecting a growth of 9.38% year-over-year[32]. - Net profit attributable to bank shareholders was RMB 86.48 billion, with a year-over-year increase of 1.36%[36]. - Operating income for 2024 is projected to be RMB 349.13 billion, up from RMB 342.91 billion in 2023, indicating a growth of 1.64%[36]. - Customer deposits reached RMB 15.29 trillion, a growth of 9.54% compared to the previous year[32]. - The capital adequacy ratio improved to 14.44%, up 0.21 percentage points from the previous year[32]. - The non-performing loan ratio increased to 0.90%, compared to 0.83% in the previous year[42]. - The net interest margin decreased to 1.87%, down from 2.01% in 2023[40]. - The cost-to-income ratio was reported at 64.01%, slightly improved from 64.87% in 2023[40]. - The bank's cash flow from operating activities was RMB 397.28 billion, significantly higher than RMB 263.34 billion in 2023[36]. Loan and Deposit Growth - The balance of agricultural loans amounted to RMB 2.29 trillion, while the balance of inclusive micro-enterprise loans was RMB 1.63 trillion[3]. - The balance of green loans reached RMB 781.732 billion, an increase of 22.55% compared to the end of the previous year[3]. - Total liabilities amounted to CNY 16.05 trillion, reflecting an 8.69% growth year-over-year[61]. - Individual deposits were RMB 13,628.54 billion, increasing by RMB 11,336.82 billion or 9.07%, driven by the bank's focus on high-quality deposit development[160]. - Company deposits rose to RMB 1,656.25 billion, a growth of RMB 1,978.10 billion or 13.56%, reflecting enhanced comprehensive financial service capabilities[160]. Customer Base and Services - The number of personal mobile banking customers reached 378 million, with monthly active users of mobile banking at 81.84 million[3]. - The bank served over 280 million elderly customers, with financial social security cards exceeding 120 million in circulation[3]. - The bank has nearly 40,000 operating outlets and serves over 670 million individual customers[16]. - The bank's electronic payment transaction scale was CNY 7.03 trillion during the reporting period[182]. - The bank's personal international settlement business recorded 160,400 transactions, with a total transaction amount of USD 362 million[181]. Digital Transformation and Innovation - The bank is accelerating its digital transformation, integrating business technology to create an open, shared, and intelligent operational support capability[21]. - The bank is actively advancing AI innovation applications to deepen the integration of financial services and technology[12]. - The company launched a new generation of corporate and credit card core systems, winning first-class awards in financial technology development for two consecutive years[62]. - The bank's electronic payment services have been enhanced through the launch of the "Smart Cube Customer Operation Platform" for precise marketing[182]. - The bank has implemented a digital banking section specifically for private banking clients, improving service accessibility and experience[186]. Risk Management and Compliance - The bank maintains a prudent risk management system, emphasizing comprehensive risk management capabilities[18]. - The bank's commitment to compliance and risk management ensured the quality of liability business development remained stable[157]. - The company aims to enhance its risk management framework and utilize big data and AI for better risk monitoring and control[65]. - The proactive credit granting model has been recognized with the People's Bank of China "Financial Technology Development Award" first prize[200]. Strategic Focus and Development - The bank's strategic focus includes technology finance, green finance, inclusive finance, pension finance, and digital finance to enhance overall competitiveness[20]. - The bank is focusing on high-quality development by upgrading its core systems and optimizing personnel configuration[12]. - The company aims to enhance its market positioning by focusing on differentiated growth in the financial market and actively adjusting investment strategies[112]. - The bank is committed to a long-term strategy, emphasizing the importance of sustainable development and risk management in a low-interest-rate environment[67]. - The outlook for 2025 indicates a continued focus on high-quality development and support for key areas such as new urbanization and rural revitalization[74]. Awards and Recognition - The company received multiple awards, including the Financial Technology Development Award (First Class) from the People's Bank of China and recognition as an excellent service case at the National Specialized and Innovative Conference[30]. - The company ranked 106th in the Brand Finance 2024 Global Banking 1000 and 12th in The Banker 2024 Global Most Valuable Brands by tier 1 capital[29]. Pension and Elderly Services - The bank has implemented a comprehensive promotion of the personal pension system, enhancing its service offerings[3]. - The establishment of 21 "Golden Sunshine Stations" in Beijing to provide comprehensive services for the elderly, addressing health, safety, learning, and asset planning needs[194]. - The active promotion of the "U Enjoy Future" personal pension service brand, enhancing the management of personal pension accounts throughout their lifecycle[193]. - The company has integrated a three-dimensional pension financial system focusing on pension finance, pension service finance, and pension industry finance[193].