2021-03-29 16:00Financial Performance - The total operating income for 2020 was RMB 286,202 million, an increase of 3.0% from RMB 276,809 million in 2019[23]. - The net profit for 2020 reached RMB 64,318 million, up 5.0% from RMB 61,036 million in 2019[23]. - The total assets as of December 31, 2020, amounted to RMB 11,353,263 million, a growth of 11.1% compared to RMB 10,216,706 million in 2019[25]. - Customer loans totaled RMB 5,716,258 million at the end of 2020, representing an increase of 14.9% from RMB 4,974,186 million in 2019[25]. - The company achieved operating income of CNY 286.20 billion, a year-on-year increase of 3.39%[58]. - Net profit was CNY 64.32 billion, reflecting a year-on-year growth of 5.38%[58]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[18]. - The financial report for 2020 was audited by PwC and Deloitte, both issuing unqualified opinions[18]. Risk Management - The bank emphasizes risk management with a comprehensive risk management system, maintaining a high-quality asset level[3]. - The non-performing loan ratio was 0.88% at the end of 2020, slightly up from 0.86% in 2019[28]. - The provision coverage ratio improved to 408.06% in 2020, compared to 389.45% in 2019[28]. - The company has not identified any significant risks that adversely affect its future development strategy and operational goals[19]. - The bank's non-performing loan ratio was 1.02% for normal loans, a decrease from 1.28% in 2019[31]. - The company is committed to strengthening risk management and compliance frameworks to safeguard consumer rights and enhance internal controls[77]. Customer Base and Services - The bank serves over 600 million personal customers and operates nearly 40,000 outlets, focusing on rural areas, urban residents, and small and medium-sized enterprises[3]. - The number of personal customers served reached 622 million, with mobile banking customers totaling 299 million[58]. - The bank's retail banking strategy focuses on serving rural areas, urban residents, and small and medium enterprises, leveraging a unique "self-operated + agency" model[42]. - The wealth management team has expanded to 41,300 personnel, an increase of 5,825 from the previous year, enhancing service capabilities for high-net-worth clients[160]. - The company has launched a personal wealth management system to provide clients with wealth assessment and planning services, leveraging financial technology[160]. Digital Transformation and Technology Investment - In 2020, the company invested CNY 9.027 billion in information technology, accounting for 3.15% of its operating revenue, achieving significant advancements in digital transformation[59]. - The company plans to leverage digital RMB pilot opportunities to enhance its digital transformation and create a comprehensive financial service ecosystem[62]. - The company is focusing on enhancing its IT capabilities and data governance to improve data asset quality and application[76]. - The company completed 333 information technology projects during the year, successfully fulfilling its IT planning tasks[67]. Capital and Reserves - The company allocated RMB 6.249 billion for statutory surplus reserves and RMB 13.572 billion for general risk reserves in 2020[18]. - The capital adequacy ratio stood at 13.88% as of December 31, 2020, an increase from 13.52% in 2019[29]. - The company issued CNY 800 billion in perpetual bonds and completed a CNY 30 billion A-share private placement, enhancing its capital strength and risk resilience[60]. Loans and Deposits - The loan-to-deposit ratio improved by 1.78 percentage points to 55.19%[58]. - Agricultural loans amounted to CNY 1.41 trillion, increasing by CNY 149.68 billion[58]. - Inclusive small and micro enterprise loans reached CNY 801.25 billion, up by CNY 148.06 billion[58]. - Customer deposits reached RMB 10,358.03 billion, an increase of RMB 10,439.63 billion or 11.21% year-over-year[135]. - Personal deposits accounted for 87.81% of total customer deposits, with a year-over-year increase of RMB 9,122.50 billion or 11.15%[137]. Strategic Focus and Future Plans - The bank aims to enhance its service capabilities and transform into a data-driven, integrated, and efficient retail banking model[7]. - The bank's strategic focus includes digitalization, specialization, and comprehensive service enhancement to meet the evolving needs of customers[7]. - The company plans to continue optimizing its asset structure and focus on high-yield earning assets to enhance profitability in the future[92]. - The company aims to enhance its service capabilities to the real economy by improving retail, corporate, and interbank ecosystems[75]. - The bank aims to expand its interbank ecosystem coverage and strengthen integrated cooperation in the future[195]. Financial Investments and Asset Management - The bank's total financial investments amounted to RMB 3,914.65 billion, an increase of RMB 239.62 billion or 6.52% compared to the previous year[127]. - The bank's asset management business saw total managed assets exceed 1 trillion yuan, growing by 8.22% year-on-year, with a product net value rate of 55.31%, up 24.18 percentage points[197]. - The bank's custody assets reached 4,274.117 billion yuan, with insurance fund custody surpassing 500 billion yuan at 567.198 billion yuan, and public fund custody reaching 382.401 billion yuan, an increase of 109.74%[198]. Community and Social Responsibility - The bank is committed to providing inclusive financial services and supporting green finance and targeted poverty alleviation[3]. - The bank actively promoted digital transformation in rural finance and enhancing its microfinance ecosystem[78]. - The bank is committed to supporting rural revitalization and poverty alleviation, with financial precision poverty alleviation loans increasing by 18.065 billion yuan compared to the previous year[200].