Bank of Ningbo(SZ:002142)2024-04-09 16:00Dividend and Financial Performance - The company plans to distribute a cash dividend of 6 RMB per 10 shares to common shareholders, subject to approval at the annual general meeting[2]. - The company's operating income for 2023 reached RMB 61,585 million, an increase of 6.40% compared to RMB 57,879 million in 2022[16]. - Net profit for 2023 was RMB 25,609 million, reflecting a growth of 10.71% from RMB 23,132 million in the previous year[16]. - The company's basic earnings per share for 2023 was RMB 3.75, an increase of 10.95% from RMB 3.38 in 2022[16]. - The return on equity (ROE) for 2023 was 14.05%, a decrease of 0.55 percentage points from 14.60% in 2022[16]. - The net cash flow from operating activities for 2023 was RMB 173,372 million, an increase of 82.94% from RMB 94,768 million in 2022[16]. - The company's total revenue for business operations was RMB 61,585 million, with a total profit of RMB 27,898 million, showing a solid performance across various segments[113]. - The company reported a net profit margin of 18% for the last fiscal year, reflecting strong operational efficiency[190]. Asset and Liability Management - Total assets at the end of 2023 amounted to RMB 2,711,662 million, representing a 14.60% increase from RMB 2,366,097 million at the end of 2022[18]. - The company's total liabilities at the end of 2023 were RMB 2,509,452 million, reflecting a 14.19% increase from RMB 2,197,571 million in 2022[18]. - The bank's equity totaled RMB 202.21 billion, up 19.99% from the previous year, with retained earnings increasing by RMB 15.66 billion[90]. - The liquidity coverage ratio was 244.48%, significantly above the required minimum of 100%[22]. - The total amount of consumer loans issued by Ningyin Consumer Finance reached RMB 4,694.94 million, a 92.79% increase[118]. Risk Management and Compliance - The company is dedicated to improving risk management capabilities, aiming to minimize risk costs and ensure sustainable development[13]. - The non-performing loan ratio remained low at 0.76%, well below the regulatory limit of 5%[23]. - The company has established a comprehensive liability quality management system to enhance the management of funding sources, structure, and costs[110]. - The company has implemented a robust framework for market risk reporting and internal controls, ensuring effective governance and accountability at all levels[136]. - The company has made significant strides in anti-money laundering efforts, including the completion of its first institutional risk self-assessment[146]. Technology and Innovation - The company is committed to investing heavily in financial technology, focusing on systematic, digital, and intelligent enhancements to improve operational efficiency[14]. - The bank launched two new financial service platforms, "Bobo Zhiliao" and "Beautiful Life," to enhance customer engagement and service offerings[25]. - The company plans to accelerate the integration of financial technology into its operations to better serve customers and support business model upgrades[36]. - The company launched a new digital banking platform, which has already attracted 100,000 users within the first month[192]. - The company is investing 100 million RMB in research and development for new technologies in 2024[197]. Market Strategy and Customer Engagement - The company emphasizes a strategy of "supporting the real economy and serving SMEs," aiming to enhance financial services for small and medium enterprises[13]. - The company aims to deepen its market presence and optimize branch layouts based on regional customer characteristics, enhancing competitive advantages[13]. - The company plans to focus on serving private small and micro enterprises, manufacturing enterprises, and import-export enterprises to drive sustainable development[177]. - The company aims to enhance customer engagement through digital platforms to increase the retention of demand deposits[178]. - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2025[190]. Awards and Recognition - The company received multiple awards in 2023, including "Best Inclusive Finance Service Bank" and "Best Urban Commercial Bank"[15]. - The bank's ranking in the "2023 Global Bank 1000" list was 82, indicating its strong position in the industry[24]. - The company ranked 82nd in the "2023 Global Bank 1000" list, improving by 5 positions from the previous year[30]. Future Outlook - The company’s future outlook remains cautious with no specific guidance provided for the upcoming fiscal year[187]. - The company anticipates a revenue growth of 10% for the upcoming fiscal year, driven by market expansion and new product launches[191]. - The company plans to enhance credit risk management by implementing prudent lending policies and improving risk monitoring through financial technology, maintaining asset quality at a favorable industry level[180]. - Future outlook remains positive, with anticipated economic recovery contributing to increased lending activities and improved asset quality[200].