2020-03-25 16:00Bank Performance and Growth - In 2019, China Postal Savings Bank ranked 22nd in the global bank tier 1 capital according to The Banker magazine[2]. - The bank serves over 600 million personal customers and has nearly 40,000 service outlets[2]. - The bank has achieved significant growth potential and aims to become a first-class large retail commercial bank[2]. - The company reported a statutory surplus reserve of RMB 6.068 billion and a general risk reserve of RMB 12.166 billion for the year 2019[8]. - The company’s operating revenue for 2019 was RMB 276.81 billion, an increase of 6.9% from RMB 260.99 billion in 2018[14]. - Net profit for 2019 reached RMB 61.04 billion, up 16.1% from RMB 52.38 billion in 2018[14]. - The total assets as of December 31, 2019, amounted to RMB 10,216.71 billion, a growth of 7.4% compared to RMB 9,516.21 billion in 2018[15]. - The company reported a basic earnings per share of RMB 0.72 for 2019, compared to RMB 0.62 in 2018, reflecting a growth of 16.1%[14]. - The company plans to enhance its market expansion strategies and invest in new technologies to drive future growth[14]. Risk Management - The bank emphasizes a comprehensive risk management approach, maintaining a strong asset quality[2]. - The company has not identified any significant risks that adversely affect its future development strategy and operational goals during the reporting period[9]. - The company is committed to effective risk management measures to mitigate various risks[9]. - The non-performing loan ratio remained stable at 0.86% for both 2019 and 2018[19]. - The loan provision coverage ratio improved to 389.45% in 2019 from 346.80% in 2018, indicating stronger asset quality management[19]. - The bank's non-performing loan (NPL) balance is CNY 42.844 billion, unchanged from the previous year, with an NPL ratio of 0.86%[170]. - The bank's credit risk management framework includes a risk management committee and a credit business review committee to oversee significant credit risk management matters[159]. - The bank has established a mechanism for monitoring and managing high-risk clients, enhancing its ability to preemptively address potential credit risks[160]. Financial Performance Metrics - The capital adequacy ratio was 13.52% as of December 31, 2019, slightly down from 13.76% in 2018[19]. - The net interest margin for 2019 was 2.50%, down from 2.67% in 2018[18]. - The average yield on interest-earning assets decreased to 4.04% in 2019 from 4.10% in 2018[44]. - The average cost of customer deposits was 1.55%, an increase from 1.41% in the previous year, with time deposits yielding 2.23% and demand deposits yielding 0.31%[54]. - The cost-to-income ratio for the reporting period was 56.57%, up 0.16 percentage points from the previous year[60]. - The company reported a significant increase in non-interest income, with other non-interest income rising by 56.77% to 19.500 billion RMB[42]. Customer and Market Engagement - The bank's personal banking business revenue was CNY 176.569 billion, a year-on-year increase of 7.94%, contributing 63.79% to total revenue[99]. - The number of personal customers served exceeded 605 million, an increase of 26.611 million from the previous year[100]. - The bank's wealth management system saw VIP customers increase to 30.9642 million, a growth of 10.86% year-on-year[103]. - The bank's online loan product balance reached CNY 205.018 billion, focusing on digital and standardized offerings[131]. - The bank's electronic banking transaction amount reached 22.70 trillion yuan, a year-on-year increase of 22.77%, with mobile banking transactions amounting to 7.09 trillion yuan, up 22.03%[143]. Technology and Innovation - The company invested RMB 8.18 billion in information technology, accounting for 2.96% of its operating income[30]. - The company plans to allocate approximately 3% of its operating income annually to information technology investments[31]. - The bank's new financial technology platform launched in April 2019 has enhanced its competitive edge in the financial market[120]. - The company is actively promoting digital transformation in consumer credit, utilizing big data and machine learning for loan management and risk control[112]. - The bank has launched 41,900 intelligent teller machines (ITMs), enhancing transaction capabilities with over 90 new functions[145]. Social Responsibility and Community Engagement - The bank is committed to supporting the real economy and actively participates in social responsibility initiatives, including inclusive finance and green finance[2]. - The bank's commitment to rural revitalization and support for small and medium-sized enterprises is a key part of its operational philosophy[2]. - The bank's agricultural loans amounted to CNY 1.26 trillion, reflecting the bank's commitment to rural revitalization strategies[133]. - Financial poverty alleviation loan balance was CNY 82.46 billion, with an increase of CNY 21.26 billion[35]. Corporate Governance and Structure - The company’s legal representative is Zhang Jinliang, and the CEO is Guo Xinduan[11]. - The company’s registered office is located at Financial Street No. 3, Xicheng District, Beijing, China[11]. - The organization has a total of 8,231 branches, including 36 first-level branches and 5,803 second-level branches[151]. - The total number of employees reached 174,406, with 129,248 holding a bachelor's degree or higher, accounting for 74.11%[147]. Capital and Funding - The core Tier 1 capital adequacy ratio was 9.90%, an increase of 0.13 percentage points from the previous year[36]. - The Group's core Tier 1 capital net amount was RMB 492,212 million, with a risk-weighted asset total of RMB 4,969,658 million[199]. - The Group issued RMB 800 billion of perpetual bonds in March 2020 to enhance external capital replenishment channels[197]. - The Group's total capital net amount reached RMB 671,834 million, reflecting a solid capital foundation[199].