Bank of Ningbo(SZ:002142)2023-04-05 16:00Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 5 RMB per 10 shares to common shareholders, subject to approval at the annual general meeting[1]. - The company has a profit distribution policy that mandates a minimum cash dividend of 10% of the distributable profit for each year from 2022 to 2024, subject to profitability and capital adequacy[200]. - The company plans to prioritize cash dividends for shareholder returns over the next three years[200]. Financial Performance - The company's operating income for 2022 was RMB 57,879 million, an increase of 9.67% compared to RMB 52,774 million in 2021[16]. - Net profit for 2022 reached RMB 23,132 million, representing a growth of 17.97% from RMB 19,609 million in the previous year[16]. - The basic earnings per share for 2022 was RMB 3.38, an increase of 7.99% compared to RMB 3.13 in 2021[16]. - The company's return on equity (ROE) was 14.60%, an increase of 0.64 percentage points from 13.96% in 2021[16]. - The company achieved a net cash flow from operating activities of RMB 94,768 million, a significant improvement from RMB (44,549) million in 2021[16]. - The company reported a net profit margin of 25% for the last fiscal year, reflecting strong operational efficiency[176]. - The net profit attributable to shareholders was RMB 5 billion, reflecting a growth of 12% compared to the previous year[180]. Asset and Liability Management - Total assets at the end of 2022 amounted to RMB 2,366,097 million, reflecting a year-on-year increase of 17.39%[18]. - The total amount of loans and advances increased by 21.25% to RMB 1,046.002 billion by the end of 2022[66]. - The total customer deposits amounted to RMB 1,297.09 billion, reflecting a growth of 23.19% year-over-year, with corporate deposits increasing by 20.89% and personal deposits by 32.23%[85]. - The company's total equity reached RMB 168.53 billion, a growth of 12.40% from the previous year, with retained earnings increasing by RMB 12.87 billion[87]. - As of the end of 2022, the total liabilities of the company reached RMB 2,197.57 billion, an increase of 17.79% compared to the end of the previous year[84]. Risk Management - The company aims to improve risk management through a comprehensive, intelligent, and digitalized approach, reducing risk costs to ensure sustainable development[13]. - The company emphasized a focus on value creation, aligning its strategies with the needs of the real economy and enhancing support for small and micro enterprises[25]. - The company has implemented a comprehensive risk management system, enhancing risk identification, measurement, monitoring, and control capabilities[117]. - The company has established a robust market risk management framework, including stress testing and risk limit management for trading books[126]. - The company has strengthened compliance risk management by continuously improving internal control systems and monitoring compliance risk distribution[133]. Technology and Innovation - The company plans to continue investing heavily in financial technology to enhance operational efficiency and risk management[14]. - The focus on digital transformation and financial technology aims to enhance service efficiency and customer experience[30]. - The company is investing 200 million yuan in technology research and development to enhance digital banking services[176]. - The company has established a research and development budget of 100 million to drive innovation in product offerings[187]. Market Strategy and Growth - The company is focused on developing nine profit centers, including corporate banking, retail banking, wealth management, and investment banking, to diversify its revenue streams[13]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2025[180]. - The company plans to pursue strategic acquisitions to bolster its competitive position in the financial sector[176]. - The company plans to maintain a strong asset quality, with a focus on precise risk management and leveraging financial technology for early risk detection and management[168]. Corporate Governance - The company has a diverse management team, including a female vice president and several independent directors[173]. - The board of directors includes 10 members, with the chairman holding 1,374,350 shares at the end of the reporting period[173]. - The company has appointed independent directors, with one holding 165,000 shares at the end of the reporting period[173]. - The company has a stable board with members serving until February 9, 2026[173]. Customer Engagement and Services - The number of inclusive small and micro enterprise customers increased by 125.11% to 186,200, with inclusive loans amounting to CNY 153.8 billion, a growth of 25.86%[146]. - The company conducted 2,680 consumer education activities, reaching over 29.8 million consumers, and received a 100% response rate to 1,244 regulatory complaints[163][164]. - The number of users on Ningbo Bank's APP reached 7.38 million, a 29% increase from the previous year, with monthly active users also growing by 29%[161]. Future Outlook - The company plans to implement a new three-year plan focusing on high-quality development, emphasizing customer-centric strategies for private enterprises, small and micro businesses, and manufacturing sectors[165]. - The company anticipates a revenue growth of 10% for the upcoming fiscal year, driven by market expansion strategies[176]. - The company has set a performance guidance of 10-15% revenue growth for 2023[180].